Group 1 - Xinjiang Xinxin Mining (03833) experienced a significant stock price increase, rising 22% yesterday and over 5% in the afternoon today, with a current price of 1.83 HKD and a trading volume of 32.1364 million HKD [1] - Mysteel reported that recent events in Indonesia have raised supply concerns in the nickel market, leading to heightened investor anxiety, although the conflict has not directly impacted major nickel production areas [1] - According to Fangzheng Zhongqi Futures, there is an ongoing expectation of overall nickel supply surplus by 2025, with improvements in Indonesian nickel ore supply but ongoing policy disruptions [1] Group 2 - The report indicates that unless the conflict in Indonesia escalates to affect major production areas, the current emotional price increase in nickel may lack sustained momentum [1] - Nickel pig iron prices are supported by production cost stability, and there are domestic and international production cut disruptions, alongside a relatively strong demand for stainless steel in the domestic market [1] - The approval process for nickel quotas is expected to revert from three years to one year in 2026, with a focus on stricter enforcement against illegal mining activities [1]