Huayou Cobalt Shares Rise as Smelter Production in Indonesia Boosts

Tue 08 Jul 2025, 09:14 AM

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Huayou Cobalt Shares Rise as Smelter Production in Indonesia Boosts
Image Source: www.bloombergtechnoz.com

Zhejiang Huayou Cobalt Co. Shares Ltd. or Huayou soared to near its highest level in the last 4 months after profits for the first half of 2025 reached a record.

The Chinese company's profit growth was driven by increased production from nickel projects in Indonesia and rising global cobalt prices.

The major battery material maker expects net profit for the January–June period to be in the range of 2.6 billion yuan (equivalent to USD 360 million) to 2.8 billion yuan, according to its interim performance report released on Monday (July 8, 2025).

Referring to the lower end of the estimate, this figure reflects a 56% jump in profits compared to the same period the previous year.

Huayou shares on the Shanghai Stock Exchange rose 5.8% to 39.5 yuan at the start of Tuesday's trading session.

The company revealed that its two nickel-cobalt projects in Indonesia recorded strong production.

Production at the Huafei facility even exceeded planned capacity, while operations at Huayue remained stable.

In addition, the company managed to lower production costs and reduce dependence on raw materials from third parties.

The recovery in global cobalt prices also supported performance. Prices of the commodity began to rebound in February after the Democratic Republic of Congo—a major global supplier—imposed an export ban.

On the other hand, nickel prices on the London Metal Exchange  (LME) plunged to their lowest level since 2020 earlier this year.

Source: https://www.bloombergtechnoz.com/detail-news/76505/saham-huayou-cobalt-menguat-dikerek-produksi-smelter-di-indonesia

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