Stock Track | LYGEND RESOURCE Plummets 6.04% Intraday on Indonesia Nickel Ore Benchmark Price Policy Adjustment

Stock Track04-22

LYGEND RESOURCE's stock plummeted 6.04% during intraday trading on Wednesday, reflecting significant selling pressure.

The sharp decline is primarily attributed to Indonesia's recent revision of its nickel ore benchmark price (HPM) policy, which officially took effect earlier this month. The policy adjustment is expected to sustain upward pressure on raw ore prices, drawing market attention to increased upstream cost structures for relevant enterprises like LYGEND RESOURCE.

Despite the company issuing a voluntary announcement stating that its production and operations remain normal with all business lines progressing steadily, and indicating it would implement risk-diversification measures, the anticipated rise in Indonesian ore prices poses tangible pressure on its cost base. Market sentiment remains cautious, contributing to the stock's downward adjustment.

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