[Hyundai Motor Group and Huayou Cobalt Jointly Built a Power Battery Recycling System in Indonesia] Recently, Hyundai Motor Group signed a cooperation agreement with Zhejiang Huayou Recycling Technology Co., Ltd. (a subsidiary of Huayou Cobalt) to jointly build an EV power battery recycling system in Indonesia. The cooperation covered the recycling and utilization of battery production scrap and end-of-life batteries, aiming to achieve a closed-loop resource system throughout the entire battery life cycle.

[Toyota Indonesia Warns Escalating Middle East Conflict May Affect Exports and Global Supply Chains] Toyota Motor Manufacturing Indonesia (TMMIN) recently stated that the continuously escalating conflict in the Middle East could have multi-stage impacts on the company's export business and global supply chains. Bob Azamangkat, the company's vice chairman, told Indonesian automotive media that the company is currently continuing to assess potential fluctuations in energy prices and disruptions to international logistics routes that the conflict may trigger.

Hyundai Motor Group announced on the 12th that it has signed a memorandum of understanding (MOU) with Huayou Recycling. The agreement focuses on building an EV battery circular economy ecosystem in Indonesia.

The Indonesian Ministry of Energy and Mineral Resources (ESDM) updated its 2026 coal production target to 733 million tonnes, up from earlier estimates of a 600 million tonne cap. The revision aims to balance global supply security with price stability as Southeast Asian demand for industrial coal remains high.

Indonesian steel producer PT Bahagia Steel has partnered with SMS Group to install a new twin-strand rebar production line at its Kampung Wringinanom site. The project is part of a plan to reach a total capacity of 1.2 million tonnes per annum (mtpa) to serve Southeast Asia’s growing infrastructure demand.

[SMM Aluminum Express News] Indonesia's Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, held a bilateral meeting with Japan's Minister of Economy, Trade and Industry (METI), Ryosei Akazawa, on the sidelines of the Indo Pacific Energy Security Ministerial and Business Forum (IPEM) in Tokyo, Japan, March 15, 2026. A key outcome was the signing of a Memorandum of Cooperation in two strategic areas: 1. Critical minerals (focusing on secure, sustainable supply chains for nickel, bauxite, lithium, rare earths, and others essential for batteries, EVs, and green tech). 2. Nuclear energy (covering technology transfer, human resource development, safety standards, regulatory alignment, and potential collaboration on small modular reactors or other advanced nuclear solutions).

On March 17, the SMM average price of battery-grade nickel sulphate remained unchanged.

Philippines Market: Tight Supply and Surging Freight Rates Supported Ore Prices to Fluctuate at Highs Philippine nickel ore prices rose sharply this week. In terms of prices, Philippine nickel ore CIF China quotes were $64-68/wmt for Ni 1.3% grade, $71-75/wmt for Ni 1.4% grade, and $78-82/wmt for Ni 1.5% grade, up $6 WoW. The average CIF price from the Philippines to Indonesia was $65.5/wmt for 1.3% grade and $72.5/wmt for 1.4% grade. Supply side, although the Philippines was transitioning into the dry season, mining hubs such as Surigao and Homonhon continued to see heavy rainfall due to a low-pressure area (LPA) east of Mindanao. Although Metro Manila and most parts of Luzon saw hot and sunny weather, the probability of rainfall exceeding 50 mm in Surigao and Caraga remained “very high.” Strong thunderstorms and scattered precipitation were expected to further intensify during March 9 to 13. Affected by the trough of the low-pressure area and the easterlies, persistent rainfall may continue to disrupt open-pit mining and vessel loading operations in southern regions. Market supply remained scarce. Driven by both supply tightness caused by cuts in Indonesia’s RKAB quotas and expected supply gaps, mainstream prices for Philippine nickel ore have surged recently. As of Friday, March 13, nickel ore inventory at Chinese ports stood at 5.23 million mt, down 500,000 mt WoW. Current total port inventory was equivalent to about 41,100 mt Ni in metal content. Demand side, China’s NPI prices rose this week, with spot transaction prices up about 1,089.9 yuan per nickel unit. As smelters had sufficient stockpiling earlier and showed limited acceptance of recently high-priced nickel ore, most were currently taking a wait-and-see stance. In terms of ocean freight rates, affected by a sharp jump in oil prices, nickel ore freight rates climbed, with the ocean freight rate from the Philippines to Lianyungang reaching $15/mt or above. Looking ahead, Philippine nickel ore prices are expected to continue fluctuating at highs. Indonesia Market: Under Weather Disruptions and RKAB Policy Clarification, Tight Supply Continued Indonesia's local nickel ore prices rose somewhat this week. Indonesia’s nickel ore benchmark price (HPM) for the first half of March was set at $17,104/dmt, down 3.21% MoM. According to SMM Indonesia nickel ore premium data, average premiums for 1.4%, 1.5%, and 1.6% grade laterite nickel ore were reported at $35, $39, and $39.5/wmt, respectively. Among them, the port arrivals under domestic trade price for 1.6% grade was $65.2-74.2/wmt. The simultaneous strengthening in premiums this month reflected both the release of smelters’ restocking demand and pessimistic expectations over RKAB quota cuts, while the delivered price of 1.2% grade limonite ore also edged up to $24-26/wmt. From the supply and demand fundamentals, as of March 13, Indonesia’s key nickel ore producing areas of Morowali, Konawe, and Halmahera were affected this week by strong thunderstorms and extremely high humidity of up to 94%. Weather continued to fluctuate, causing soil to become highly saturated and seriously hindering mine drying and transport operations. Morowali and Konawe will face a heavy rainfall system over the weekend with precipitation probability as high as 80%, while Halmahera, under high-humidity conditions, is expected to see rainfall intensity rebound again next Friday, with overall logistics capacity remaining constrained. At present, RKAB approvals for most small- and medium-sized mines remained pending. As existing quotas could no longer be used for next month’s production and sales, rising supply uncertainty was pushing nickel ore prices higher. Demand side, as some Indonesian smelters faced uncertainty over nickel ore resources and found it difficult to secure high-grade saprolite ore, nickel ore prices remained firm. To secure raw material supply, some smelters even raised trading bonuses. Overall, although the impact of the current MOMS system failure on mines had largely faded, overall nickel ore supply remained tight. Although spot supply of limonite ore was relatively sufficient, some related production lines were currently running at low load due to a tailings dam landslide accident at some MHP projects in an Indonesian industrial park, leading to temporary weakness in overall demand. However, considering concerns among some Indonesian smelters over RKAB approval uncertainty, raw material stockpiling demand from newly commissioned projects, and continued growth in demand from outer islands, limonite ore prices are expected to closely track saprolite ore and remain high. On the policy side, in response to recent market rumors that “production quotas (RKAB) will be uniformly supplemented by an additional 25%-30%,” Tri Winarno, Director General of Minerals and Coal at Indonesia’s Ministry of Energy and Mineral Resources (ESDM), clarified on March 3, 2026, that RKAB supplements would be based on individual assessments of enterprise production capacity and compliance, rather than a uniform proportional increase, and indicated that the approval process would start in H2 2026. Officials emphasized that this was a routine regulatory process for resource optimization, rather than a passive countermeasure to the previous output cap policy. Looking ahead, affected by the relatively slow progress of RKAB approvals, nickel ore prices are expected to remain more likely to rise than fall in April.

[SMM Morning Meeting Summary: The Tin Market Weakened After Fluctuating at Highs, Under Short-Term Pressure Amid Intertwined Bullish and Bearish Factors]

[SMM Nickel Flash] The average price of SMM 10-12% high-grade NPI rose WoW by 2.2 yuan/nickel unit to 1,089.9 yuan/nickel unit (ex-factory, tax included), while the average price of Indonesia NPI FOB index rose WoW by $0.39/nickel unit to $138.93/nickel unit. This week, the tender price of mainstream steel mills was released, and the market came under brief pressure, but trading activity subsequently recovered to some extent, with high-grade NPI transaction prices rising again.