Business
How the Lynas share price (ASX:LYC) sunk 90% last time this happened
The Lynas Rare Earths Ltd (ASX: LYC) share price has come under immense selling pressure after the company revealed that Chinese producers were planning to increase production.
Among them, Northern Rare Earth will be doubling production within three years. This accounts for some 60% of China’s total rare earth production.
This news sent the Lynas share price into free fall, shedding 13% in value in the last two trading sessions.
China has a near-global monopoly in rare earths production. This accounts for more than 55% of total global output. Between 2011 and 2017, fierce domestic competition and ignoring environmental protocols…
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