PT Trimegah Bangun Persada (NCKL), known as Harita Nickel, reported Q1 2026 revenue of Rp6.81 trillion (~$418 million) and full-year 2025 revenue of Rp29.63 trillion (~$1.82 billion), with all production lines — nickel ore mining, RKEF pyrometallurgy, and HPAL hydrometallurgy producing MHP and nickel sulphate — running on target. The company said it is maintaining a measured operational approach across its integrated value chain amid a challenging global nickel market. On ESG, Harita reported Q1 2026 emissions avoidance of 977,278 tCO2e, up 37% year-on-year, supported by waste heat recovery, biosolar use, and coal gasification technology. The company is also advancing IRMA corrective actions and preparing for RMAP supply chain due diligence audit.

SMM News, May 29: According to SMM statistics, the total output of primary aluminum overseas in May 2026 fell year-on-year by 9.9%, mainly due to large-scale production cuts at aluminum smelters in the Middle East. The average daily overseas output edged up 0.4% month-on-month, supported by production resumptions at smelters in the US, Spain and Iceland, as well as ramping-up output from new projects in Indonesia. As revealed in the Q4 and full-year financial report of Vedanta Aluminium for Fiscal Year 2026, Balco Aluminium Plant has launched the first production run on India’s most advanced 525kA primary aluminum production lines. The plant’s total production capacity has expanded to 1 million metric tons, and the project is expected to enter a steady output ramping phase. Looking ahead to June 2026, production resumptions at aluminum smelters in the US and Iceland will continue. Driven by high price levels, new primary aluminum projects in Indonesia will accelerate construction, and some are expected to commence power connection and commissioning gradually. The expanded capacity at Balco in India will keep ramping up. Overall, overseas primary aluminum output will remain in year-on-year decline in the short term, while the average daily output will maintain month-on-month growth amid ongoing production resumptions and capacity ramping of new projects. Market participants shall keep a close eye on official announcements from aluminum producers across the Middle East, Indonesia and India.

[SMM Magnesium Market Analysis: Coal Cost Transmission Imbalance, Weakened Integrated Cost Advantages, and Continued Convergence of Regional Magnesium Ingot Cost Gaps] Recently, energy cost fluctuations in the magnesium industry far exceeded ferrosilicon price fluctuations. The influence of coal prices on magnesium prices increased significantly, and the cost structure of magnesium ingots underwent a notable shift.

SMM Weekly Stainless Steel Futures Review — week of May 25–29, 2026. Indonesian nickel ore and ferroalloy policy expectations and a low-inventory floor steady the benchmark contract near RMB 14,800/mt in the week of May 25 – May 29.

[SMM Coking Coal and Coke Daily Brief] Supply side, coking enterprises saw increased costs, and with strong sales performance and low inventory levels at some coking enterprises, coke fundamentals remained tight. Demand side, steel mill production enthusiasm was moderate, and some steel mills had low coke inventory levels, sustaining rigid demand for coke. However, the off-season impact on the end-user finished steel market intensified, steel prices performed weakly, and steel mills showed limited acceptance of further coke price increases. In summary, the coke market is expected to continue to hold up well next week.

Tata Steel’s latest performance shows a company moving from a traditional volume-based steel business toward a more margin-focused and transformation-driven model. It is driving growth and profitability, financial performance is recovering through better margins and cost control, while the company’s key business activities are increasingly focused on downstream expansion, raw material security and low-carbon steelmaking.