Zhejiang Huayou Cobalt Co.Ltd(603799) 3 announced on March 9 that recently, the media reported that the company had accumulated a large number of short positions in the nickel derivatives market and that the company’s Indonesian nickel resource development project might be affected by partners. The company has arranged nickel cobalt resource development business in Indonesia. In order to stabilize operation and prevent risks, in the case of continuous high nickel price, in order to prevent and control the risk of price decline and lock in operating profits, the company carries out nickel hedging business in strict accordance with the company’s hedging management system in combination with its own production and operation. It is not an active hedging tool in production. Recently, the nickel futures market has experienced abnormal fluctuations. Up to now, the company has not been forced to close its positions, and the risk is controllable. There is uncertainty in the future trend of nickel futures, which may lead to losses in the company’s hedging business. Nickel and cobalt resource development projects such as the laterite nickel ore hydrometallurgy crude nickel and cobalt hydroxide project and the laterite nickel ore pyrometallurgical high nickel matte project arranged by the company in Indonesia have been promoted normally. Among them, the laterite nickel ore hydrometallurgy project with an annual output of 60000 tons of nickel metal of the subsidiary Huayue nickel and cobalt Co., Ltd. has been successfully put into trial production.
Zhejiang Huayou Cobalt Co.Ltd(603799) : high nickel prices are unsustainable. The rise in nickel prices is due to foreign investors seizing loopholes and maliciously going long
“Demon nickel rampant”! 100 billion white horse shares Zhejiang Huayou Cobalt Co.Ltd(603799) fell by the limit. A large number of accounts receivable of the company may be related to Qingshan holdings
