HK Stock Market Move | LYGEND RESOURCE (02245) rose over 6% in late trading; net profit for the first three quarters increased by more than 60% year on year; Indonesia's policy is expected to support nickel prices.

LYGEND RESOURCE (02245) rose over 6% in late trading. As of press time, it was up 4.78% at HK$17.54, with a turnover of HK$41.0816 million. On the news front, LYGEND RESOURCE recently issued an announcement that, driven by the continued release of production capacity at its nickel smelting base on Obi Island, Indonesia, the company's overall operating scale expanded rapidly in the first three quarters, achieving operating revenue of RMB37.493 billion, up 26.22% year on year; net profit attributable to shareholders was RMB3.32 billion, up 62.31% year on year. Changjiang noted that Indonesia's control of nickel ore RKAB has tightened supply, and nickel prices have strong support at US$15,000-16,000. The Indonesian government stated that the revised quota of 290 million to 300 million metric tons for 2026, and in 2027 it will consider oversupply conditions and the RKAB will be lower than the 2026 total. As a country accounting for nearly 70% of global nickel output, Indonesia's ore quota control is expected to provide bottom support for nickel prices.