Group 1 - The core point of the news is the significant growth in stainless steel production by Shyam Metalics and Energy Limited (SMEL), which reached 8,100 tons in July, marking a 42% increase compared to the same period last year [1][2] - In addition to stainless steel, other major products of the company also showed growth: aluminum foil production increased to 1,700 tons, a 9% year-on-year rise; special alloy production reached 21,800 tons, up 13%; and carbon steel production was 138,600 tons, reflecting a 5.7% increase [2] - However, there was a decline in the production of sponge iron and pelletized ore, with outputs of approximately 68,600 tons and 88,000 tons respectively, indicating a mixed performance across different product lines [2] Group 2 - For the first quarter of the fiscal year 2026, SMEL reported a consolidated net profit of 2.9215 billion rupees, a year-on-year increase of 5.8% [2] - The company's operating revenue for the same period grew by 22%, reaching 44.1884 billion rupees, showcasing overall operational resilience [2]

Group 1 - The core viewpoint of the article highlights an increase in optimism, particularly in the mechanical engineering and metal production sectors, with significant improvements in expectations [1] - The electrical industry also shows a notable rise in optimistic sentiment, although it is secondary to the mechanical engineering and metal production sectors [1]

Core Viewpoint - Nornickel anticipates a decline in financial performance for the year due to low metal prices, high interest rates, a strong ruble, and global trade disputes [1] Group 1: Financial Performance - Nornickel expects significant negative impacts on financial indicators due to high geopolitical uncertainty, escalating trade disputes, risks of global economic slowdown, and tightening monetary policies [1] - The company faces challenges from a strong ruble, low metal prices, inflation, and high debt servicing costs [1] - The Russian central bank's key interest rate of 20% is seen as a major drag on the economy, leading to a substantial slowdown this year [1] Group 2: Investment and Dividends - Difficult conditions have forced Nornickel to reduce investments and postpone certain projects [1] - The board of directors has recommended not to pay dividends for the 2024 performance, stating that increasing debt levels to pay dividends is inappropriate [1] Group 3: Market Outlook - Nornickel's vice president, Anton Berlin, predicts that the palladium market will remain balanced in 2025, while the nickel market will be oversupplied [2] - The automotive industry, a major consumer of these metals, is still in crisis [2] - Berlin criticized Indonesia for flooding the global market with cheap nickel, harming other producers, and noted that approximately 40% of nickel producers are currently operating at a loss [2] - Nornickel aims to ensure that global trade disputes do not affect its export volumes and intends to sell all of its produced products [2]

Core Viewpoint - European metal producers are lobbying the EU to impose export tariffs or restrictions on scrap metal exports in response to the influx of scrap metal into the U.S. triggered by the Trump administration's trade policies [1] Group 1: Trade Policies and Impact - The Trump administration has imposed a 50% tariff on imported steel and aluminum, which has increased the demand for tariff-free scrap metal and significantly raised its prices [1] - European metal producers warn of an impending shortage of scrap metal due to the increased demand from the U.S. market [1] Group 2: Environmental Concerns - The influx of scrap metal into the U.S. could disrupt carbon emission strategies that European producers are trying to implement [1]