LYGEND RESOURCE Surges Over 7% in Morning Trading; Institutions Foresee Gradual Nickel Price Recovery

Deep News

Feb 11

LYGEND RESOURCE (02245) saw an increase of more than 7% during the trading session. At the time of writing, the stock had risen by 6.66%, trading at HK$28.20, with a turnover of HK$99.11 million.

On February 11, the Shanghai nickel 2603 main contract rose over 4%, reaching 139,670 yuan per tonne. Citing media reports, the Shanghai Metals Market indicated that Indonesia's Ministry of Energy and Mineral Resources (ESDM) issued the 2026 nickel ore RKAB quota on February 10. Tri Winarno, Director of Mineral and Coal, confirmed that the approved production volume for the year is only 260 to 270 million tonnes. CITIC Securities previously noted that, in the long term, Indonesia's regulatory stance toward the mining sector is gradually tightening, which is expected to slow the growth rate of nickel ore output and support a gradual recovery in nickel prices from their lows.

Goldman Sachs recently raised its 2026 nickel price forecast from $14,800 per tonne to $17,200 per tonne. The firm suggested that, as ore supply tightens and bolsters the market, prices could reach around $18,700 per tonne by the second quarter of 2026. Macquarie also increased its average nickel price forecast for the London Metal Exchange in 2026 from $15,000 per tonne to $17,750 per tonne.

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At the time of writing, the stock had risen by 6.66%, trading at HK$28.20, with a turnover of HK$99.11 million.</p>\n<p>On February 11, the Shanghai nickel 2603 main contract rose over 4%, reaching 139,670 yuan per tonne. Citing media reports, the Shanghai Metals Market indicated that Indonesia's Ministry of Energy and Mineral Resources (ESDM) issued the 2026 nickel ore RKAB quota on February 10. Tri Winarno, Director of Mineral and Coal, confirmed that the approved production volume for the year is only 260 to 270 million tonnes. CITIC Securities previously noted that, in the long term, Indonesia's regulatory stance toward the mining sector is gradually tightening, which is expected to slow the growth rate of nickel ore output and support a gradual recovery in nickel prices from their lows.</p>\n<p>Goldman Sachs recently raised its 2026 nickel price forecast from $14,800 per tonne to $17,200 per tonne. 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At the time of writing, the stock had risen by 6.66%, trading at HK$28.20, with a turnover of HK$99.11 million.</p>\n<p>On February 11, the Shanghai nickel 2603 main contract rose over 4%, reaching 139,670 yuan per tonne. Citing media reports, the Shanghai Metals Market indicated that Indonesia's Ministry of Energy and Mineral Resources (ESDM) issued the 2026 nickel ore RKAB quota on February 10. Tri Winarno, Director of Mineral and Coal, confirmed that the approved production volume for the year is only 260 to 270 million tonnes. CITIC Securities previously noted that, in the long term, Indonesia's regulatory stance toward the mining sector is gradually tightening, which is expected to slow the growth rate of nickel ore output and support a gradual recovery in nickel prices from their lows.</p>\n<p>Goldman Sachs recently raised its 2026 nickel price forecast from $14,800 per tonne to $17,200 per tonne. 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Tri Winarno, Director of Mineral and Coal, confirmed that the approved production volume for the year is only 260 to 270 million tonnes. CITIC Securities previously noted that, in the long term, Indonesia's regulatory stance toward the mining sector is gradually tightening, which is expected to slow the growth rate of nickel ore output and support a gradual recovery in nickel prices from their lows.\nGoldman Sachs recently raised its 2026 nickel price forecast from $14,800 per tonne to $17,200 per tonne. The firm suggested that, as ore supply tightens and bolsters the market, prices could reach around $18,700 per tonne by the second quarter of 2026. 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