Harita Nickel plans to launch a share buyback of up to Rp 1 trillion, subject to shareholder approval. The company said the move is intended to enhance shareholder value because the current share price does not fully reflect its fundamentals. Against a backdrop of volatility in nickel sector valuations, the planned buyback is also seen as a step to support market expectations and reinforce shareholder returns.

Trimegah Bangun Persada, also known as Harita Nickel (NCKL), plans to carry out a share buyback of up to Rp 1 trillion over the next 12 months after its annual general meeting on June 30, 2026. The company said the buyback is intended to support shareholder value because the current market price does not yet reflect the company’s underlying fundamentals. NCKL shares rose more than 1% to Rp 860 on Monday.

Constellium and Ryerson are attracting market attention as aluminum prices remain high amid global trade tensions. Constellium benefited from stronger packaging, automotive and aerospace demand, with Q4 2025 revenue rising 28% YoY to USD 2.2 billion and packaging and automotive rolled product shipments increasing 11%. The company also generated USD 110 million in free cash flow and continued share buybacks. In comparison, Ryerson’s aluminum business supported a 10.4% increase in aluminum revenue to USD 1.15 billion in 2025, but weaker manufacturing demand and debt pressure continued to weigh on sentiment. Over the past six months, Constellium shares rose 60.8% while Ryerson declined 6.6%.

SMM Nickel News, May 12: Macro and market news: (1) An Iranian official said on May 11 that serious disagreements existed between Iran and the US in negotiations over the disposal of enriched uranium, the duration of uranium enrichment suspension, and war reparations. (2) The PBOC released its Q1 2026 China Monetary Policy Implementation Report. The report proposed continuing to implement a moderately accommodative monetary policy, flexibly utilizing various monetary policy tools to maintain ample liquidity and relatively accommodative social financing conditions. The report also noted that as of month-end March, financial institutions had signed stock buyback and stake-increase loan contracts totaling approximately 370 billion yuan, with over 180 billion yuan already disbursed. Spot market: On May 12, SMM #1 refined nickel prices fell 1,450 yuan/mt from the previous trading day. Spot premiums: Jinchuan #1 refined nickel averaged 1,200 yuan/mt, unchanged from the previous trading day, while domestic mainstream brand electrodeposited nickel ranged from -700 to 500 yuan/mt. Futures market: The most-traded SHFE nickel 2606 contract surged in early trading before dropping sharply, closing the morning session at 145,980 yuan/mt, down 0.71%. Although Iran and the US had previously come close to reaching an agreement framework, the negotiations ultimately failed to sign formal terms. If the geopolitical stalemate continues to escalate and sulfur supply constraints remain unresolved, nickel prices still have upside room. In the short term, the most-traded SHFE nickel contract is expected to trade in the range of 145,000-150,000 yuan/mt.

The performance of the gold price in March surprised many investors, as the precious metal recorded significant price declines despite geopolitical escalations.

According to POSCO’s Q1 2026 earnings call, the company has introduced its third interim shareholder return policy and shifted from a free-cash-flow-based approach to a more earnings-linked framework. The new policy targets a shareholder return ratio of 35%-40% of adjusted net profit attributable to controlling interests, to be delivered through a mix of cash dividends and share buybacks or cancellations. POSCO said the change is intended to improve payout visibility while balancing growth investment and shareholder returns.