Xinjiang Xinxin Mining (03833) rose more than 15% in Hong Kong trading. At the time of writing, the stock was up 15.25% to HK$2.72, with a turnover of HK$56.9274 million. The surge follows reports of tightening nickel supply. According to information from MySteel, French mining giant Eramet announced that due to the near exhaustion of its annual RKAB quota, its Weda Bay nickel mine in Indonesia is scheduled to fully transition to a "care and maintenance" status by mid-May. Eramet's first-quarter 2026 financial report disclosed that its Indonesian subsidiary, WBN, started the year with an initial RKAB quota of 12 million wet tonnes, with an external sales cap of 9 million wet tonnes. This figure represents a sharp decline of over 70% compared to the 2025 quota of 42 million wet tonnes. It is expected that the annual quota will be exhausted by mid-May, after which the mine will enter a maintenance phase, while an application for a quota increase is underway. Public information shows that Xinjiang Xinxin Mining wholly owns four nickel-copper mines: Kalatongke, Huangshandong, Huangshan, and Xiangshan. In 2025, the company achieved operating revenue of RMB 2.561 billion, a year-on-year increase of 11.7%. Net profit attributable to shareholders was RMB 194 million, up 5.6% year-on-year. The growth was primarily driven by increased sales volumes and rising prices for products such as electrolytic nickel, cathode copper, precious metal materials, electrolytic cobalt, and sulfuric acid.