Today, Hong Kong-listed nickel stocks rose across the board. As of press time, $CNGR (02579.HK)$ 、 $LYGEND RESOURCE (02245.HK)$ rising over 10%, $XINXIN MINING (03833.HK)$ Surged over 8%.
On the news front, according to the Indonesian Nickel Miners Association, the production target for nickel ore proposed by the government in the 2026 Work Plan and Budget (RKAB) is approximately 250 million tons, a significant decrease from the 379 million tons set for 2025. The Secretary General of APNI explicitly mentioned that the reduction in production targets this time is primarily aimed at preventing further declines in nickel prices. This reduction reflects an intention to influence global nickel prices.
CICC released a research report stating that the proposed production target of 250 million tons for nickel ore represents a government-level objective, with the final implementation and allocation still subject to uncertainty. Considering the relatively minor economic impact of tightening nickel ore quotas on Indonesia at present, and given that rising nickel prices would help increase tax revenues and enhance the value of domestic resources, the probability of the tightened nickel ore quota policy being implemented is relatively high. The firm believes that Indonesia's efforts to strengthen its control over resources will contribute to stabilizing the long-term price range of nickel.
Editor/KOKO