LYGEND RESOURCE (02245) surged more than 11% in the afternoon session. As of the time of writing, the stock was up 10.59%, trading at HK$26.32, with a turnover of HK$192.6 million.

On January 23, the main nickel futures contract on the Shanghai market continued to rally, gaining nearly 5% to 149,290 yuan per tonne. According to previous reports, Indonesia may approve nickel ore production quotas of approximately 260 million metric tons by 2026. China Post Securities pointed out that nickel is one of the few non-ferrous metal varieties that has missed out on the bullish market for non-ferrous metals so far in 2024. As of January 5, 2026, nickel has only risen by 3% since the start of 2024, a significantly smaller increase compared to precious metals, industrial metals like copper, aluminum, and zinc, and energy metals such as cobalt and lithium carbonate. Should Indonesian policies create a supply-demand gap for the metal, there is potential for a highly elastic catch-up rally.

It is reported that LYGEND RESOURCE is a globally leading nickel industry leader, comprehensively covering the entire nickel industry chain. The company started with nickel ore trading and gradually transitioned into industrial operations, building itself into a full nickel industry chain company. It currently covers the complete chain of operations, including nickel ore trading, smelting production, equipment manufacturing, and sales.