Category: Commodities

Revisiting plantation shares

The benchmark January 2020 contracts of crude palm oil (CPO) advanced RM22 to RM2,606 per ton on the Bursa Malaysia Derivatives Monday (Nov 11), while February and March contracts were traded at RM2,635 and RM2,642 per ton respectively. Reduction of fertilizer application by planters, prolonged dry weather, and biological tree stress are seen supporting factors.

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Palm Oil Journal

Indonesian economy might get a boost from recovery of palm oil industry. The benchmark January 2020 contracts of crude palm oil (CPO) on the Bursa Malaysia Derivatives jumped RM81 to RM2498 per ton (US$598) Wednesday (Oct 31). Contracts for February-June 2020, meanwhile, were all settled above US$600 per ton. Further rallies?

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Nickel Surprise from ‘Luhut-Bahlil’

Minister of investment and head of Investment Coordinating Agency (BKPM) Bahlil Lahadalia claimed that the ministry, coordinating ministry for maritime affairs, Nickel Miners Association (APNI), and Indonesian Processing and Refining Association (AP3I) have agreed to accelerate implementation of nickel ore export ban from January 1st, 2020 to October 29, 2019.

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What’s wrong with Aneka Tambang?

Unlike Vale Indonesia (INCO), which enjoyed strong performance in third quarter, Aneka Tambang (ANTM) suffered 31.8% fall in net profit despite 24.3% growth in sales revenues. As a result, the subsidiary of INALUM booked net profit of Rp561 billion only in the first nine months of 2019, down 11.1% from the corresponding period last year.

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Australian Nickel and the EV Battery Race

At least ten companies listed on Australia Stock Exchange (ASX) attended the Australian Nickel Conference today. Their presentation materials provided to ASX this morning suggesting strong optimism about the future of electric vehicles (EVs) despite correction of LME nickel price rom US$18,000 to US$17,405 per ton yesterday following disappointing reports about EV sales in China.

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Nickel and Electric Vehicle Market

Stainless steel is still the single largest market for nickel. Unlike crude steel, world production of stainless steel grew 1.9% in the first half of 2019, mainly supported by the world’s largest producer China, whose output grew significantly by 8.5% to 14.35 million tons or 55% of total world production.

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Revisiting INALUM (3)

INALUM, which acquired 51% shares of PT Freeport Indonesia, suffered Rp287.26 billion of losses in the first half of 2019 against net profit of Rp4.27 trillion in the corresponding period last year, among others due to substantial increase in finance costs related to acquisition of the copper and gold mining company.

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Revisiting INALUM (2)

Aneka Tambang, subsidiary of mining giant INALUM, which is engaged in gold, nickel, bauxite, and alumina business, has just released its financial results for the period ended June 30, 2019. The Company booked net profit of Rp365.8 billion in the first half, improved from Rp344.4 billion in the corresponding period last year, but mainly due to non-cash forex gain of Rp136 billion.

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Oil & Gas Journal

Oil prices edged lower on Friday, amid concerns of slowing global demand growth and a faster-than-expected recovery in Saudi oil production. Also, the International Energy Agency said on Friday that it might cut its growth...

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Geo Energy expands further

Against all odds, SGX-listed coal miner Geo Energy Resources Ltd, which has operations Indonesia, decided to grow its assets through acquisition of new mines. Other than targeting coal mining assets in East Kalimantan, the company has recently entered into agreements to acquire majority shareholding in two coal mines in South Sumatra.

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