REE outperforms in July
Our REE basket was our best performer in July, up 15% as NdPr prices in Shanghai were well-bid for the first time in a while. Lynas Corp (ASX:LYC) was, unsurprisingly, the best performer, being everybody’s go to REE stock. It managed 27% (in US$ terms), boosted by strong CQ2/21 results during the quarter. Our Nickel basket also performed strongly, up 12%, while Lithium was the next-best performing material with Brine stocks up 12% and Hard rock 8%. Manganese and Cobalt were our worst-performing baskets, down 10% and 11% respectively.