Indonesian MHP Nickel and Cobalt FOB Prices Drop, High-Grade Nickel Matte Rises Slightly

Chinese Taiwan's cold-rolled stainless steel manufacturer Tung Mung Development has commenced construction on a first-phase 10MW/20MWh smart energy storage project at its Syuejia plant in Tainan, scheduled for commercial operation in Q1 2027. Led by turnkey contractor iBASE ENERGY, the behind-the-meter (BTM) system performs peak shaving, stabilizes voltage fluctuations for precision steel rolling lines, and provides emergency backup power, utilizing CATL cells. The first-phase system is expected to generate annual electricity savings of approximately NT$40 million — around 20% of the plant's NT$250 million annual electricity expense. Potential overall savings could exceed 35% upon completion of a planned second-phase expansion involving 60MWh of storage and 7MW of solar capacity.

Marcegaglia Stainless Sheffield President Liam Bates stated that concerns over steel quota impacts on downstream industries could be addressed by increasing purchases of domestically produced standard stainless steel long products while maintaining imports of specialist grades. Following the latest UK government review, the effective market size was adjusted to approximately 30,000 mt, while tariff-free quotas were raised to 20,000 mt/year — meaning roughly two tonnes can be imported tariff-free for every tonne produced domestically. Even if the entire market were supplied through imports, the average tariff impact across the market would be approximately 17%. Bates noted that standard products, which account for most UK demand, can largely be manufactured domestically, though a significant share of UK stainless steel distribution is owned by European bar producers that have traditionally supplied from European facilities. Shifting standard and interchangeable requirements to domestic sourcing would preserve quota capacity for specialist grades. Marcegaglia Stainless Sheffield is also expanding its product offering to serve a broader UK customer base.

Tang Eng Iron Works reported Q2 net profit of NT$77.56 million, securing two consecutive quarters of profitability and contributing to H1 net profit of NT$191.68 million with EPS of NT$0.55. Consolidated Q2 revenue reached NT$2.82 billion, bringing H1 total revenue to NT$5.29 billion. Unaudited July revenue rose 24.8% MoM to NT$880.2 million. The turnaround was driven by improved steel market conditions, rising nickel prices, and consistent price adjustments implemented since December last year. Market participants expect the company to return to full-year profitability, ending four consecutive years of losses.