Core Viewpoint - The Indonesian Nickel Mining Association (APNI) has announced a significant reduction in nickel ore production targets for 2026 to approximately 250 million tons, down from 379 million tons set for 2025, aimed at preventing further declines in nickel prices [2][4]. Company Overview - Liqin Resources (02245) saw its stock price increase by 7.81%, currently trading at HKD 23.46, with a trading volume of HKD 86.617 million [2][4]. - The company, in partnership with associates, is investing in nickel smelting production lines on Obi Island, Indonesia, with a planned capacity of 120,000 tons of nickel and 14,000 tons of cobalt, of which the equity capacity is 69,000 tons of nickel and 8,200 tons of cobalt, expected to be fully operational by 2024 [2][4]. - The first phase of the pyrometallurgical project has a capacity of 95,000 tons and is set to commence production in 2023, while part of the second phase is expected to start in the first half of 2025, with full production anticipated by 2026, increasing total capacity to 280,000 tons and equity capacity to 155,000 tons, indicating significant production flexibility [2][4]. Industry Insights - The revision of the nickel production target is part of the government's work plan and budget (RKAB) for 2026, reflecting a strategic move to stabilize nickel prices [2][4]. - The calculation formula for the nickel reference price (HPM) may also be revised, focusing on treating by-products, particularly cobalt, as independent commodities subject to royalties [2][4].
力勤资源午后涨逾8% 公司火法项目2026年全部投产