HK Stock Market Move | LYGEND RESOURCE (02245) rose by more than 20% again, with continuous disturbances in Indonesian nickel mining policies. The company's wet-process project has a total production capacity of 120,000 tons.

LYGEND RESOURCE (02245) continued to rise within the month, with another increase of over 20% in early trading today. As of the time of writing, it has risen by 18.35% to HK$10.64, with a turnover of HK$6.7467 million. China Grain Futures pointed out that nickel ore in Indonesia has been tight recently, with premiums rising from $16-17/ton to $21/ton. With the decrease in production of high-nickel pig iron in Indonesia in March, the support logic for nickel costs is relatively strong. Combined with the sufficient time for nickel to consolidate and the positive macro sentiment, various factors such as the overall rise in non-ferrous metals resonate, leading to a strong rise in nickel prices. On September 4, 2024, LYGEND RESOURCE announced that its ONC project (HPAL project Phase III) had successfully achieved full production on September 2, 2024, with a total annual design capacity of 65,000 metric tons of nickel-cobalt compound/nickel sulfate. This marks a milestone in the company's development in the field of wet smelting. With the company's wet phase one and phase two capacity of 55,000 tons, the company's total wet capacity is now 120,000 tons.