(Corrects spelling of "preferred" in second paragraph)
June 21 (Reuters) - Lynas Corp LYC.AX on Friday said it was stockpiling production of its major rare earth element, Neodymium Praseodymium, despite a sharp increase in prices lately as rare earths find themselves in the middle of the U.S.-China trade war.
Lynas, the only major proven producer outside China of rare earths, said its decision will allow it to consolidate its position as a preferred supplier.