[SMM Flash News] Nickel Industries Posts Strongest Earnings Since Dec 2023 Driven by RKAB Expansion

Published: Apr 29, 2026 18:59

Save

Nickel Industries reported its strongest operational earnings since December 2023 for Q1 2026, fueled by over 3 million wmt in ore sales from its Hengjaya Mine. A major catalyst was the 60% expansion of its 2026 RKAB sales license to 14.3 million wmt, defying the trend of industry-wide quota cuts. Profitability surged as NPI and HPAL margins rose 155% and 20%, respectively.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

8 mins ago

[SMM Analysis] Price Increases, Demand Flat: The Contradiction Running Through Overseas Stainless Steel in H1 2026

Tightening supply policy in Indonesia, new import quotas and carbon costs in the EU, and tariff walls in the US pushed benchmark stainless steel prices higher across nearly every major market in the first half of 2026 — even as real demand stayed weak everywhere, turning global trade increasingly into a fight over market access rather than supply and demand.

8 mins ago

12 mins ago

[SMM Analysis] Downstream Purchasing Sentiment Remains Weak; Intermediate Product Payables Under Pressure

Downstream Willingness to Purchase Sentiment Remains Weak, Intermediate Product Payables Under Pressure

12 mins ago

18 hours ago

[SMM Nickel Flash News] Indonesia Government Officially Releases New Export Controls on FeNi and NPI

Indonesia has strengthened oversight of its value-added nickel industry under Ministry of Finance Decree No. 32/MK/BC/2026, implementing Minister of Trade Regulation No. 17/2026. The regulation imposes stricter export controls on HS Code Ex. 7202.60.00, covering ferronickel (FeNi) ingots and lumps (≥8% Ni), Sponge FeNi and Nugget FeNi (≥4% Ni), and low-grade FeNi products (2% ≤ Ni < 4%, Fe ≥75%), including certain Nickel Pig Iron (NPI) products. Exporters must obtain mandatory Surveyor Reports (LS) and export authorizations, while from 1 January 2027, exports will generally be limited to state-owned export enterprises (BUMN Ekspor), subject to approved exemptions.

18 hours ago