Category: Commodities

Quintessentially Nickel: Southeast Sulawesi

Southeast Sulawesi recorded export revenues of US$3.87 billion last year, only 1.85% of national total but expanded significantly from US$2.4 billion (1.47%) in 2020. Given massive investment in nickel processing industry, including stainless steel, export revenues from the province would continue to grow in the coming years.

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Quintessentially Nickel: Central Sulawesi

Central Sulawesi is a fast growing export base for Indonesia, thanks to massive investments in nickel processing industry, including stainless steel. Last year, the province generated US$10.9 billion of export revenues, jumped from US$7.5 billion in 2020. Nickel pig iron (NPI) and stainless steel dominated the export, but more higher value nickel products will enter the world market this year. 

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Quintessentially Nickel: North Maluku

North Maluku was among the poorest provinces in Indonesia. Last year, however, the province recorded US$3.51 billion of export revenues, skyrocketed from US$1.04 billion only in 2020. The province’s export revenues will easily triple in three years time to make it one of the largest export bases in Indonesia, thanks to massive investments in nickel pig iron (NPI), ferronickel, nickel in matte, and nickel-cobalt sulphate.

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Walk the Talk: Coal-to-DME

President Joko ‘Jokowi’ Widodo has on Monday (Jan 24) kicked off physical construction of Indonesia’s first coal-to-dimethyl ether (DME) project, which is labelled by Institute of Energy Economics and Financial Analysis (IEEFA) ‘Does Not Make Economic Sense’. According to an article written by IEEFA’s energy analyst Ghee Peh, the project will report annual losses of US$377 million. Jokowi, on the other hand, wants more DME projects to curb the country’s import of liquefied petroleum gas (LPG), which is more than US$5 billion per annum.

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Decarbonization projects to watch (3)

Energy and mineral resources ministry has on Friday (Jan 21) clarified media reports about implementation of Regulation No. 26/2021 about Rooftop Solar Power Plant. Dadan Kusdiana, director general of new energy and renewable energy resources at the ministry, said implementation of the regulation is supported by all stakeholders pursuant to a coordination meeting chaired by coordinating minister for the economy on January 18, 2022.

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139 Coal Miners May Resume Export: Who’s Not in the List?

Some coal companies have declared status of their export, but others are not entirely clear. The government has just resumed export activities of 139 companies. Among them are major coal miners like PT Adaro Indonesia (subsidiary of Adaro Energy/ADRO), PT Arutmin Indonesia and PT Kaltim Prima Coal (subsidiary of Bumi Resources), PT Berau Coal (Sinarmas Group), and PT Kideco Jaya Agung (subsidiary of Indika Energy). 

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Nickel Journal: More restrictions

Nickel closed higher at US$24,160 on Friday (Jan 21) following reports about Indonesian government’s plan to impose export duties on nickel pig iron (NPI) this year. Strong demand from the battery sector, lifted by impressive sales growth of electric vehicles all over the world, contributed to the decade’s record high.

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Decarbonization projects to watch (2)

The government has just ‘suspended’ implementation of Minister of Energy and Mineral Resources Regulation No. 26/2021 about Rooftop Solar Power Plant connected to public grid only months after its deliberation. The decision upsets stakeholders, especially developers of rooftop solar power projects. Still, there are a lot of initiatives out there to accelerate decarbonization in the country.

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Decarbonization projects to watch (1)

Tsingshan, the world’s largest stainless steel producer, which is the main driver of nickel-related investments in the Indonesia Morowali Industrial Park (IMIP) and Indonesia Weda Bay Industrial Park (IWIP), has early last year announced a plan to develop 2,000 MW clean energy power plants in three-five years time.

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Nickel Journal

Benchmark nickel futures on the London Metal Exchanged reached US$22,570 per ton last week, the highest since August 2011. This should benefit Indonesia, the world’s largest exporter of nickel products (mainly in the form of nickel pig iron/NPI, ferronickel, nickel in matte, and nickel sulphate). Rising sales of electric vehicles everywhere, particularly Europe and China, and firm demand from battery sector support the commodity.

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