Nickel prices have soared 21% in September, Walsin Lihua's revenue hit a record high

Comprehensive Taiwan media reported on September 13, 2022, the London Metal Exchange (LME) nickel price rose 5.7% last Friday, at US$22,994 per metric ton, and rose another 6.5% yesterday to US$24,500 per metric ton. The cumulative nickel price in September has risen by 21%. , With the rebound in nickel prices and the recent heavy hit by the typhoon at Posco Steel, the buying of stainless steel has been supported.

International copper and nickel prices began to fall back from the end of the second quarter. After the LME copper spot and 3-month futures prices fell below the US$8,000 level since July, they have fallen more and rose less since then, and nickel prices hovered between US$21,000 and US$23,000.

In addition to the power cable, copper and stainless steel industries, Huaxin invested in setting up a nickel pig iron plant in Tsingshan, Indonesia. Four production lines were fully opened in the second half of last year, with a quarterly output of 10,000 tons, pushing up Shenghuaxin's consolidated revenue in August to 122.415 billion Yuan, with an annual growth rate of 27.62%, the fourth highest in the same period.

Since nickel is considered to be a raw material needed in the steel, military and battery fields, the market has pointed out that "whoever wins nickel wins the future".

Huaxin's accumulated net profit after tax in the first half of the year was 9.29 billion yuan, the third highest in the past year, and EPS was 2.71 yuan. Analysts believe that under the recovery of demand in October, the price of stainless steel will be stronger than that in the third quarter. It is estimated that Huaxin This year, the revenue continued to rise, and the profit also hit a new high.