Indonesia








Energy Markets

Fossil Fuels

Fossil Fuels

Indonesia plans to use the sovereign wealth fund to boost coal-gasification projects

Energy Minister Danantara Indonesia said that Indonesia is looking to increase coal gasification through its newly established sovereign wealth fund Danantara Indonesia. Indonesia, which is the world's largest thermal coal producer has been trying to process low-ranking coal into dimethyl ether in order to reduce LPG imports. However, previous projects have failed due to investors pulling out. Energy Minister Bahlil stated late Tuesday that the government will provide the capital investment, and the local investors will cover the rest. "Danantara will be one of them." Bahlil stated that four coal gasification project will be implemented in South Sumatra, East Kalimantan...

Oil & Gas

The core profit of Vallourec drops due to lower tube prices in North America

France's Vallourec announced a 24% decline in its core profit for the fourth quarter on Thursday. It cited lower average selling prices for its steel tubes, its primary market, in North America. Vallourec makes tubings for oil and gas markets, low-carbon energies and industrial markets. Its operating earnings before interest taxes, depreciation, and amortization (EBITDA), fell to 214 millions euros ($224) in the fourth quarter of 2024. This was due to a 27% decline in North American tubes. In the fourth quarter, around 92% (globally) of Vallourec’s total revenues came from the tubes business. In a conference call with journalists,...

Fossil Fuels

From March 1, Indonesia will use its benchmark coal prices for transactions

A senior official from the Energy and Mineral Resources Ministry announced on Wednesday that Indonesia will begin using the benchmark coal price set by the government as the price floor for all transactions next month. Indonesia uses the HBA (government benchmark price) to calculate coal mining royalty fees. Energy Minister Bahlil lahadalia announced earlier this month that the government will require coal companies to utilize the HBA for global transactions. The government is seeking to gain more control over coal prices in the country. In a message sent via text, ministry official Tri Winarno stated that the policy would be...

Fossil Fuels

Anglo American sells nickel business up to $500 Million

Anglo American announced on Tuesday that it would sell its nickel mining business to an MMG Ltd unit listed in Hong Kong for up to $500m. A broader restructuring is underway to focus its operations on iron ore and copper. Nickel business in Brazil includes two ferronickel projects and two greenfields. Anglo will receive $350 million upon completion, up $100 million as a price-linked gainout, and an additional $50 million for potential project development, according to a company statement. Together, the assets produce around 38,000 metric tonnes of nickel each year. In January, the metal's price fell to a record...

Fossil Fuels

Indonesian president: New export measures will add $80 billion to foreign exchange reserves

The Indonesian president Prabowo Subito signed a regulation on Monday requiring that exporters of non-oil and gas resources hold their proceeds in Indonesia for at least one year. He said this would add an additional $80 billion to Indonesia's foreign exchange reserves. Prabowo said in a press conference televised that Indonesia's natural resources should benefit the nation and its people through development funding and money flowing domestically. He also emphasized the importance of increasing foreign exchange reserves, and stabilizing the exchange rate. President said that the new measure would take effect on March 1. Since 2023, Indonesia requires all resource...

Fossil Fuels

UAE Non-oil Foreign Trade to Reach $817 Billion by 2024, PM Says

In a Wednesday post on X, Sheikh Mohammed bin Rashid Al Maktoum stated that the United Arab Emirates non-oil goods trade will reach a record of 3 trillion dirhams (816.86 million dollars) by 2024. Post on X reported that the non-oil exports of the Gulf State increased by 14.6% from the year before. The UAE is considered the tourism and business center of the Gulf Region. It has made significant investments in infrastructure and policy to support long-term growth. Since 2021 it has initiated a number of bilateral trade agreements, investments and cooperation deals, called Comprehensive Economic Partnership Agreements. It...

Fossil Fuels

China's BYD to finish $1 billion Indonesia plant by year-end, executive states

China's leading electric vehicle maker BYD intends to finish its $1 billion plant in Indonesia at the end of 2025, the head of its local unit said on Monday, highlighting the firm's ambition to dominate in the market where Japanese car manufacturers are popular. The long-lasting plan for the plant is for the export market, stated Eagle Zhao, BYD's president director in Indonesia. Every development of our regional production is rather smooth and likewise on the track. We will keep our commitment, which is by end-2025, we will complete the construction works, Zhao stated in a joint interview with Reuters...

Environment

China tortures and turns on seaborne coal market: Russell

China imported a record amount of coal in 2024, driving world imports of the fuel to an alltime high. So why are coal exporters beginning 2025 in a deep blue funk? For coal exporters, China is both their saviour and tormentor, as the record import volumes are only possible due to the fact that seaborne prices have dropped to multi-year lows. Rates for export coal have declined in order to stay competitive with China's domestic prices, with the world's. biggest producer and importer of coal driving what takes place in. international coal markets. China's coal imports increased to an all-time...

Coal

China's coal imports from Australia increase to greatest level because April 2020

China's coal imports from Australia rose to their greatest in more than 4 years in November, custom-mades information revealed on Friday, as deliveries continue to recuperate from an unofficial ban on Australian coal that was lifted in January 2023. Australian coal imports were 9.3 million metric heaps in November, according to the General Administration of Customs, the highest because April 2020 and up 47% from the exact same month of 2023. Year to date, at 74.15 million tons, 2024 coal imports from Australia have actually currently exceeded last year's 52.47 million lots and are on track to top the 77.51...

Coal

Indonesian arm of Malaysia's Mr DIY gets on market launching

The Indonesian arm of Malaysiabased home improvement merchant Mr do it yourself Group got rid of a wobbly start to rise on its stock market debut on Thursday. The listing came versus the backdrop of broad weak point in Asian stocks after the U.S. Federal Reserve cautioned it would ease the rate of rate cuts in the coming year. Bond yields increased and the dollar was set down near a two-year high up on Thursday. Shares of Daya Intiguna Yasa, the sibling business of Mr do it yourself, opened at 1,550 rupiah, 6% lower than its preliminary public offering price...

Fossil Fuels

Indonesia to review palm oil export levies, policy might not change

Indonesia is wanting to evaluate the way it sets palm oil export levies to maintain competitiveness versus rival edible oils, an official stated on Monday, describing it as a regular move to evaluate its trade policy. Malaysian palm oil futures last week increased as traders prepared for a possible change in Indonesia's export levy or tax structure, though rates fell in early trade Monday, tracking weakness in rival Dalian oils and pressed by a strong ringgit. Indonesia, the world's greatest palm oil exporter, last revised its levies in September this year. We must evaluate export levies routinely to increase the...

Refined Products

Asia naphtha supply expected to remain tight over next two years

Naphtha is anticipated to stay in short supply in Asia over the next number of years as more crackers come online and as need for blending the fuel with gas increases, industry executives and experts stated. Tight supply might support costs for the fuel and petrochemical feedstock and lift refiners' margins. However, raised naphtha rates will put more margin pressure on petrochemical makers which are facing weak need and increases in inventories for their products. In Asia, the naphtha deficiency compared to require is approximated at 1.73 million barrels each day (bpd) in 2025, and 1.51 million bpd in 2026,...

Mining

Mining

President Prabowo launches Indonesia's first bullion banks

On Wednesday, Indonesian President Prabowo Subito opened two "bullion bank" that will offer gold deposit services in order to keep gold stocks onshore. The country is looking to expand its commodity sector outside of mining. Southeast Asia's biggest economy is among the top gold producers in the world, but Prabowo said that much of Indonesia's gold ends up overseas. The president stated that bullion banks can help save the state foreign currency by allowing all gold to be produced onshore. "We now realise that Indonesia is a wealthy country. Prabowo stated that the gold production of Indonesia has increased from...

Mining

Sources say that India may extend the import restrictions on raw steelmaking material.

Two sources say that India could extend its restrictions on imports of low-ash metallurgical coke or metcoke to encourage steel mills in India to source their steelmaking ingredient domestically. India, the second largest producer of crude iron and steel in the world, implemented quantitative restrictions with country-specific quotas for the import of low-ash metcoke. The total amount of overseas purchases was limited to 1.4 millions metric tons between January and June. Sources who declined to be identified because they weren't authorised to speak to the media said that the government could extend the restrictions past June due to the reluctance...

Mining

Andy Home: China tightens its grip on global nickel supplies with Anglo's sale

Anglo American’s sale of its Brazilian Nickel business to China’s MMG Ltd. is a win-win for both companies. Anglo delivers on its shareholders' promise to simplify its portfolio, and pockets up to $500m. MMG, a producer of zinc, copper and cobalt, can diversify and grow its geographical footprint by expanding into Brazil. The market for nickel is one of the few that has shown signs of resilience in the face of a glut. It's not good news for western countries that want to escape China's tightening of the global nickel supply chains. China already controls around 75% the refining capacity...

Mineral Resources

Renewable Energy

Renewable Energy

VEGOILS - Palm tracks Chicago soyoil; inventory data is awaited

Malaysian palm futures rose Wednesday, ending two sessions of losses. The market was awaiting the Malaysian Palm Oil Board (MPOB)'s data. The benchmark contract for palm oil delivery in May on the Bursa Derivatives Exchange gained 69 ringgit or 1.59% to close at $4,418 ringgit (US$997.97) per metric ton. A Kuala Lumpur trader stated that "the futures will attempt to recover some yesterday's loss before resuming their direction, while waiting for the MPOB data next Monday." On March 10, the MPOB will release its monthly statistics. The Chicago Board of Trade's (CBOT) soyoil price rose by 0.77%. Dalian's palm oil...

Renewable Energy

VEGOILS-Palm settles higher despite weak soyoil, export data

Malaysian palm futures recovered from the session's early losses and settled higher on Monday. However, weakness in soyoil pricing and lower estimates of palm oil exports for the first two week of February limited gains. The benchmark May palm oil contract on Bursa Derivatives Exchange rose 40 ringgit or 0.89% to close at 1,024.14 ringgit per metric ton. The contract increased by 0.83% Friday. Anilkumar bagani, head of commodity research at Mumbai's Sunvin Group, explained that crude palm oil futures fell during the midday session due to a weakness in the soyoil market and a lower performance by Malaysian palm...

Renewable Energy

Palm oil prices fall on Dalian crudes and Dalian oils.

Malaysian palm futures fell on Thursday, ending a five session rally. Weakened Dalian oils, and a decline in crude oil prices caused by the talks to end the Ukraine/Russia war, weighed heavily on the market. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 65 ringgit (1.41%) to 4,556 Ringgit ($1,023.13) per metric ton. Anilkumar bagani, head of commodity research at Mumbai's Sunvin Group, said that crude palm oil futures fell following a selloff on energy markets, after U.S. president Donald Trump launched diplomatic efforts to end Ukraine's war. He said that...

Renewable Energy

Palm closes higher as Chicago soyoil and crude oil strengthen

Malaysian palm futures closed higher on Monday for the fifth session in a row, boosted by a stronger Chicago soyoil price and firmer crude prices. The benchmark contract for palm oil delivery in April on the Bursa Derivatives exchange gained 84 Ringgit (1.96%) to close at $4,373 Ringgit ($978.30). In the last four sessions, it has gained 2.36%. Anilkumar bagani, the commodity research director at Mumbai's Sunvin Group, said that crude palm oil futures were up on Friday, following gains in Chicago soyoil contracts. Bagani said that the U.S. president Donald Trump's tariffs against Mexico, Canada, and China have pushed...

Renewable Energy

VEGOILS-Palm ends lower on earnings reservation after 2-session rally

Malaysian palm oil futures closed lower on Tuesday as financiers scheduled revenue after two sessions of sharp gains on lower palm oil stocks and rising oil rates. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange lost 57 ringgit, or 1.27%, to 4,443 ringgit ($ 987.33) a metric heap at the close. The market is presently browsing a vital point, with bullish momentum supported by lower palm oil stocks and rising oil costs. However, concerns over palm oil's cost premium relative to soybean oil are still keeping the market in check, stated Darren Lim, commodities...

Renewable Energy

VEGOILS-Palm oil ends with more than 5% weekly losses

Malaysian palm oil futures closed up on Friday, although they posted a 5.41% weekly decrease, snapping gains from the previous week. The benchmark palm oil agreement for March delivery on the Bursa Malaysia Derivatives Exchange acquired 41 ringgit, or 0.95%, to 4,374 ringgit ($ 972.65) a metric heap at the close. The futures seen shrugging off weakness in early trade as India, the most significant edible oil importer on the planet stepped up palm oil buying and purchased around 100,000 metric lots of palm oil in the first two working days in 2025, stated Anilkumar Bagani, head of research study...

Renewable Energy

VEGOILS-Palm trades low on sell-off, tracks weakness in soyoil at Chicago

Malaysian palm oil futures extended losses in heavy morning trade on Thursday, tracking weakness in rival soyoil at the Chicago Board of Trade exchange. The benchmark palm oil agreement for February delivery on the Bursa Malaysia Derivatives Exchange lost 7 ringgit, or 0.14%, to 4,849 ringgit ($ 1,093.84) a metric lot by the midday break. Futures costs fall with heavy early morning selling activities. Overnight weakness in soyoil at the Chicago exchange also dragged the futures lower, said a Kuala Lumpur-based trader. Soyoil lost 0.99% at the Chicago Board of Trade. Dalian's most-active soyoil agreement rose 0.3%, while its palm...

Renewable Energy

VEGOILS-Palm topples in the middle of China tariff worries, weak need

Malaysian palm oil futures toppled on Thursday, as fears of U.S. tariffs troubled China and soft need for palm sparked a broad selloff in the veggie oils market. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange slid 140 ringgit, or 2.91%, to 4,675 ringgit ($ 1,047.50) a metric ton during the midday break. The contract decreased 2.21% in the previous session. The sell-off in Chicago soyoil overflowed into the Dalian oils, which then added to a decline in Malaysian palm futures, stated Paramalingam Supramaniam, director at Selangor-based brokerage company Pelindung Bestari. Speculations that the...

Renewable Energy

India thermal coal imports fall at fastest rate in 15 months

India's imports of thermal coal plunged by about a third on an annual basis in October, according to information analytics companies Bigmint and Kpler, due to slowing power generation and higher clean energy output. Deliveries into the world's second-largest coal importer plunged 31.8% to 13.56 million metric tons, Bigmint information showed. This was the fastest rate of contraction in fifteen months, and the first successive decrease because July 2023. Traders expect Indian purchases to pick up in the coming weeks, however that will not be enough to raise total annual imports above 2023 levels as deliveries are anticipated to fall...

Renewable Energy

VEGOILS-Palm oil trades flat ahead of the MPOB regular monthly information release

Malaysian palm oil futures traded flat on Monday ahead of the Malaysian Palm Oil Board ( MPOB) month-to-month information release. The benchmark palm oil contract for January shipment on the Bursa Malaysia Derivatives Exchange traded flat at 5,101 ringgit ($ 1,158.00) a metric ton by the midday break. Information launched from MPOB soon after the marketplace closed for midday break revealed that Malaysia's palm oil stocks at the end of October fell 6.32% from the previous month to 1.88 million metric lots. Exports of Malaysian palm oil products for Nov. 1-10 fell 15.8% to 429,455 metric lots from a month...

Renewable Energy

VEGOILS-Palm ends lower on profit taking ahead of a major conference

Malaysian palm oil futures closed lower on Tuesday after four successive sessions of gains, dragged down by earnings taking ahead of the Indonesian Palm Oil Association (GAPKI) conference later today. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange lost 86 ringgits, or 1.76%, to 4,805 ringgit ($ 1,107.14) a metric heap on the closing. We are seeing some bout of revenue taking today before the GAPKI conference. General palm's fundamentals look reasonably stable, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari. The Indonesian Palm Oil Conference 2024 and 2025 Price Outlook is set...

Renewable Energy

VEGOILS-Palm rises on lower stockpiles, possible production drop

Malaysian palm oil futures rose for a 4th straight session on Thursday, driven by expectations of palm production declines and lower national stockpiles. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange acquired 18 ringgit, or 0.4%, to 4,504 ringgit a metric ton at the midday break. The contract has actually up until now acquired 5.33% for 3 successive sessions. Unrefined palm oil costs opened higher today on prospects of weaker output and likely lower total stock levels in the nation, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn...