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Energy Markets

Fossil Fuels

Oil & Gas Exploration

CERAWEEK-Freeport-McMoRan hopes Trump declares copper a critical mineral

Freeport-McMoRan CEO Kathleen Quirk expressed her hope that U.S. president Donald Trump will declare copper to be a critical metal. This would allow tax credits for the American production of red metal, and help offset its global competitors, she said. Trump said to the U.S. Congress that he would take "historic action" to expand production of vital minerals, but he has not yet provided details. Copper is widely used in the global economy for power generation, electronic devices and construction. The U.S. Geological Survey identifies lithium, nickel and other minerals as essential. Quirk said that adding copper to Freeport's portfolio...

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...

Mining

Mining

Indonesian nickel smelter asks for a delay in royalty increases until prices increase

The chairman of the Indonesian Nickel Smelters Association requested that the government delay the new mineral royalties until the nickel price on the London Metal Exchange has risen to $17,000 a metric ton. The LME 3-month nickel contract is currently trading at around $15,600. According to a copy the regulation, Indonesia will begin charging higher royalties of between 14% and 19% depending on the price level on nickel ore production, up from 10%. According to the regulation, nickel matte and nickel pig iron, both semi-refined products, will be subject to a royalty of 5% to 7.5%, whereas nickel pigiron will...

Mining

Trump's tariff war is a recession alarm

The turbulence caused by U.S. president Donald Trump's tariffs has not abated, and the markets are once again in turmoil. Foreign leaders are trying to figure out how to react to this dismantling. The financial markets received a temporary reprieve on Wednesday, when Trump announced that he would pause tariffs for dozens countries for 90-days. Trump's escalating war of words with China, the world's second largest economy, has fueled fears about a recession and more retaliation. Scott Bessent, U.S. Treasury secretary, tried to reassure skeptics at a cabinet meeting held on Thursday by saying that over 75 countries were interested...

Mining

Trump's latest tariffs are set to escalate the global trade war

On Wednesday, President Donald Trump was set to implement his "reciprocal tariffs" on dozens countries, including 104% on Chinese products. This would intensify the global trade war, even as Trump prepared for negotiations with certain nations. Trump's punishing trade tariffs have shaken the global trading order, which has been in place for decades. They have also sparked fears of a recession and sent stocks around the world sharply down. Tuesday, the S&P 500 closed below 5,000 points for the first time since nearly a full year. It is now approaching a bear market defined as 20% lower than its recent...

Mineral Resources

Renewable Energy

Renewable Energy

Palm oil prices end lower than Chicago soyoil amid concerns about economic headwind

Malaysian palm futures closed lower on Monday as they tracked the weakness of rival soyoil on the Chicago market. Meanwhile, escalating U.S. - China trade tensions despite a suspension of tariffs for other countries also weighed down sentiment. At the close, the benchmark June palm-oil contract traded on the Bursa Derivatives Exchange in Malaysia lost 42 ringgit or 1% to 4,170 Ringgit ($945.58) per metric ton. Darren Lim is a commodities analyst at Singapore-based Phillip Nova. He said that despite the U.S. tariff suspension of 90 days, the broader economic headwinds, and lingering uncertainty, have continued to limit any meaningful...

Renewable Energy

VEGOILS - Dalian oils and Malaysian palm oils have seen a strong week of gains on the back of a strong physical demand.

The price of Malaysian palm oils rose for the third session in a row on Friday. This was due to strong demand before Eid al-Fitr, an Islamic holiday. Also, rival vegetable oil prices were strong. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 108 Ringgit or 2.5% to $4420 ringgit (US$996.62) per metric ton. The contract rose 1.03% in the last week, marking its first weekly increase in three. A Kuala Lumpur based trader stated that "Today crude palm oil future prices are up due to strong physical demand because of the holiday...

Renewable Energy

Palmetto prices rise after three sessions of bargain-buying losses

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....

Renewable Energy

Malaysian palm oil drops, rivals follow suit

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...

Renewable Energy

Palm oil falls due to rival oil's weakness; soft ringgit caps losses

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...

Renewable Energy

Palm prices rise on Dalian's stronger Dalian and Indonesia's increased levy

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...

Renewable Energy

Palm firms worried about low production but demand is weak.

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...

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...