Changes in Hong Kong stocks | Liqin Resources (02245) rose more than 7% in early trading, Indonesia plans to drastically lower its nickel production target in 2026

The Zhitong Finance App learned that Liqin Resources (02245) rose more than 7% in early trading. As of press release, it had risen 7.46% to HK$17.71, with a turnover of HK$11.9152 million.

According to the news, according to the Indonesian Nickel Miners Association (APNI), the nickel ore production target proposed by the Indonesian government in the 2026 Work Plan and Budget (RKAB) is about 250 million tons, which is a sharp drop from the 379 million tons set by RKAB in 2025. The APNI Secretary General explained that the purpose of the production reduction plan is to prevent nickel prices from falling further.

Morgan Stanley's latest research report predicts that by 2026, the price of nickel will rise back to $15,500 per ton, at which time supply and demand will grow at the same time. According to reports, Liqin Resources' wet process projects with a total wet production capacity of 120,000 have reached production. The first phase of the fire law project has achieved steady production, and the second phase of the fire law project has progressed steadily with an annual design capacity of 185 thousand metal tons of nickel and iron. The entire production line is expected to be completed in 2026.