Liqin Resources (02245) is now down more than 4%. As of press release, it is down 4.8% to HK$5.35.
The Zhitong Finance App learned that Liqin Resources (02245) has now fallen by more than 4%. As of press release, it is down 4.8% to HK$5.35.
According to the news, nickel futures on the London Metal Exchange (LME) fell by more than 40% in 2023, the biggest since 2008, and the worst performing industrial metal for the whole year. According to reports, Liqin Resources is an enterprise in the entire industry chain covering the procurement and trade of nickel resources, the smelting production of nickel products, and the manufacture and sale of equipment.
Notably, Liqin Resources will release results at the end of this month. Zheshang Securities pointed out in November of last year that the price of nickel products is gradually returning to rationality after a historical high in 2022. The company's overall gross margin this year has declined to a certain extent compared to last year, putting pressure on the results of the first half of the year.