Australia's Lynas rallies 13% as China bans certain rare earths exports to Japan

Sojitz

07/01/2026 03:50

** Shares of Australia's Lynas Rare Earths LYC.AX rise as much as 13.8% to A$14.97, their highest since December 3

** Stock posts largest intraday pct gain since mid-July, placing it among top gainers on the broader benchmark .AXJO, which is up 0.4% as of 0341 GMT

** China on Tuesday banned exports of dual-use items, including certain rare earth elements essential for making drones and chips, to Japan

** Dual-use items are goods with both civilian and military applications

** Japan has been a key market for Lynas for more than a decade; Japanese conglomerate Sojitz 2768.T in 2011 signed a sales deal for light rare earths

** In October, Sojitz began importing heavy rare earths

** Around 9.1 million shares change hands, close to the 30-day average volume

** Stock surged 93.5% last year

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))