China’s Zhejiang Huayou Cobalt expects record half-year earnings driven by accelerated nickel project development in Indonesia.

China’s Zhejiang Huayou Cobalt expects record half-year earnings driven by accelerated nickel project development in Indonesia.

China’s Zhejiang Huayou Cobalt Co. Ltd. is poised to report record half-year earnings, driven by the acceleration of its nickel projects in Indonesia and the rebound in cobalt prices. The company expects net income for January through June to range between 2.6 billion yuan ($360 million) and 2.8 billion yuan, representing a significant 56% increase from the previous year [1].

Huayou’s shares in Shanghai rose as much as 3.9% in early trading on Tuesday, reflecting investor optimism about the company’s financial performance. The company’s strong output at its two nickel-cobalt projects in Indonesia, Huafei and Huayue, has been a key factor in this growth. Production at Huafei has exceeded planned capacity, while costs have fallen and the company has reduced its reliance on third-party raw materials.

The recovery in the cobalt market has also contributed to Huayou’s financial success. Global prices for cobalt have jumped since February when the Democratic Republic of Congo imposed an export ban on the commodity. Meanwhile, nickel prices on the London Metal Exchange hit their lowest point since 2020 earlier this year.

References:
[1] https://www.bloomberg.com/news/articles/2025-07-08/china-s-huayou-cobalt-sees-record-profit-boosted-by-indonesia