Indonesia

According to the DRC prime minister, following a four month export ban, the Democratic Republic of Congo plans to impose cobalt export quotas and partner with Indonesia, a key producer to manage global supply. This announcement was made at a cabinet meeting held on Friday. According to the minutes of the cabinet meeting, which were seen on Wednesday, in order to reduce a global glut of minerals, the quotas would be implemented in two phases, with one part focusing on the exports, and the second on the local transformation. In February, sources said that DRC was considering export quotas after...

Three sources with direct knowledge said that U.S. companies are buying cobalt produced in Indonesia by China’s Lygend Resources, which does not face the tariffs imposed by the Trump Administration on direct imports from China. Since taking office, Donald Trump has increased import duties on Chinese products, and he also imposed levies against Canada, a key trading partner for the U.S., which is a major source of cobalt used in aerospace. Industry sources claim that Lygend's production of cobalt in Indonesia predates the new tariffs. Cobalt produced in Indonesia was first exported to the U.S. by traders who had U.S....

The Indonesian Mining Association urged the Government to reconsider its plan to increase royalty rates on mining products, as the miners already struggle with increasing operational costs and tightening cash flow. Indonesia may consider raising the royalties that mining companies pay for commodities such as coal, nickel and copper. Authorities say this is to improve the industry's governance. Hendra Sinadia, Executive Director of the group, said: "An increase in royalty rates will increase the burden on the business community. It can also affect production and investment planning." He said: "We ask that the government reconsider its plan to raise tariffs,...

Energy and Mineral Resources minister Bahlil lahadalia told reporters Friday that Freeport Indonesia could receive an export quota around 1,000,000 metric tons copper concentrate. Bahlil stated that the government had issued a regulation that allows exports of minerals in force majeure situations. This quota is valid for six-months after the recommendation has been issued. Indonesia, a country rich in natural resources, has banned the export of unprocessed mineral products, including copper and nickel. This is to encourage domestic value-adding. Freeport is asking for permission to export copper concentrator after being forced to stop production of copper cathodes at its new...

Sources in several key countries participating said that the United States was withdrawing from Just Energy Transition Partnership. This is a collaboration among richer nations aimed at helping developing countries make the transition from coal energy to cleaner sources of energy. The JETP was unveiled for the first time at the U.N. Climate Talks in Glasgow, Scotland, in 2021. South Africa, Indonesia and Vietnam were announced as the recipients of grants, loans and financial guarantees to help them move away from coal. Joanne Yawitch is the head of the Just Energy Transition Project Management Unit for South Africa. She said...

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...

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...

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...

French mining group Eramet said on Wednesday that it would trim spending this year and increase productivity gains as it continues to face unfavourable metal markets which have pushed down its 2024 profit. Eramet reported adjusted earnings before taxes, depreciation, and amortization (EBITDA), of 814 millions euros ($847.29million) in 2024. This is down 11% compared to the previous year. Earnings exclude Eramet’s New Caledonian Nickel subsidiary SLN which is supported by French government loans. Eramet said that low prices, due to the slowdown in Chinese demand and production cuts at its flagship manganese mines and nickel mines, combined with a...

Prices of soldering tin reached four-month highs Tuesday due to concerns about the supply from Indonesia, a major producer. Also, stocks registered at the London Metal Exchange have been declining. The benchmark tin price on the LME rose 0.5% to $32,850 per metric tonne after reaching $33,065, which was its highest level since October 14, and has gained 14% this year. After Indonesia's January refined-tin exports fell 67% from December to 1,566 tonnes, prices of the metal have risen higher than other metals traded on the LME. A tin dealer said that the approval time for export permits is expected...

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...

The Indonesian parliament passed on Tuesday a bill that will revise its mining law. It is intended to boost the development of domestic mining industries and regulate access for small business and religious groups. The amendment aims to encourage smaller firms to participate in the mining sector and ensure that ore is available for processing industries. Indonesia, a country rich in resources, wants to develop its metals industry. Indonesia is one of the world's largest coal exporters and also has deposits of tin and copper, as well as bauxite. The world's biggest source of nickel is in Indonesia. The amended...

After three sessions of losses in a row, Malaysian palm oils futures rose on Wednesday. This was due to bargain-hunting after the contract reached a two-month low. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange rose by 0.75% to $4277 per metric ton ($966.34). This week, the contract has fallen by 2.97%. When prices reached the lowest point of the day, they were too cheap to ignore. "We saw a great deal of bargain-hunting today. A lot of buyers came out and there was a (short)covering as well," said Paramalingam Supramaniam of Selangor brokerage Pelindung Bestari....

The price of palm oil in Malaysia fell for the third time on Tuesday, to its lowest close in almost two months. This was due to lower prices for rival vegetable oils at Dalian and Chicago and weaker export data. The benchmark June palm oil contract on Bursa Malaysia's Derivatives exchange lost 58 Ringgit or 1.35% to close at 4,247 Ringgit per metric ton, its lowest price since January 27. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group vegetable oils brokerage, said: "The sentiments in palm oil are bearish right now because it has been forced by the...

Malaysian palm oils futures fell for the second session in a row on Monday, to their lowest levels in almost two months. Pressured by weakness in vegetable oils rivals, a weaker currency helped limit losses. The benchmark June palm oil contract on Bursa Derivatives Exchange fell 1.6% at the closing to 4,305 Ringgit ($971.78) per metric ton, its lowest price since January 31. The contract follows weak external markets, but the ringgit’s weakness cushioned certain losses," said Kuala Lumpur based trader. Dalian's palm oil contract, which is the most active contract, fell 1.1% while soyoil prices dropped by 1.02%. The...

Malaysian palm oils continued to rise on Wednesday. This was due to the stronger edible oils on the Dalian market, and Indonesia's decision of raising its palm oil export tax. By midday, the benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange had gained 50 ringgit or 1.15% to $4,416 ringgit (US$996.84). The futures trading resumed on a bullish tone mainly because Indonesia reaffirmed an increase in export levies for palm oil. Prices also gained strength after the bullish momentum of Dalian vegetable oils futures," Anilkumar Bagani said, head researcher at Sunvin Group. A plantation fund...

Malaysian palm futures rose on Thursday, supported by lower production levels but capped by persistent concerns about demand from key import countries. At the close, the benchmark May palm oil contract on Bursa Derivatives Exchange rose 52 ringgit or 1.16% to 4,533 Ringgit ($1,022.10) per metric ton. The contract fell by 2.98% over the last three sessions. The palm oil market is resilient, despite the recent sell-offs due to uncertainty in global markets over tariffs. Production hasn't picked up since March and demand remains a concern, said Paramalingam Supramaniam of Selangor brokerage Pelindung Bestari. "Even if the production picks up...

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...

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...

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...

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...

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...

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...

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...