Adaro Energy (ADRO) is among the best performing stocks year-to-date with 41.7% gain despite Friday’s correction. Still, Adaro Energy is valued only half of its equity. The second largest coal group, interestingly, reported improved margins in the first quarter despite substantial decline of thermal coal prices.

Shares of Timah (TINS), one of the largest tin producers in the world, ended lower by 2.44% to Rp800 as some investors realised gains after gaining 72% from its bottom in early January. Others responded negatively Timah’s weak performance in the first quarter of 2016, when it posted net loss of Rp139 billion against Rp6.4 billion in the corresponding period of 2015.

State coal producer PT Tambang Batubara Bukit Asam (PTBA) Tbk posted net profit of Rp332.6 billion in the first quarter of 2016, down slightly from Rp340.3 billion in the corresponding period of last year, but mainly due to 37% jump in income tax expenses. Overall, the Company reported a strong quarter amidst significant fall of thermal coal prices.

WTI crude oil for June 2016 delivery advanced 3.35% to US$44.07 per barrel on Nymex Tuesday, while Brent crude gained 3.1% to US$45.86 per barrel, buoyed by weaker USD and perception about possible lower output due to significant cut of capital expenditures by oil and gas companies worldwide.

Ministry of energy and mineral resources has set US$630 million as value of 10.64% shares of PT Freeport Indonesia, a 63% discount to the price offered by Freeport McMoRan (US$1.7 billion). The government has then asked Freeport to revise down its offer.

China Shenhua Energy Co Ltd, one of the world’s largest coal producers and traders, sold 48.4 million tons of coal last month, jumped 90.6% from March 2015. Shenhua sold an aggregate of 92.5 million tons of coal in the first quarter of 2016, an increase of 27.1% from the same period of 2015.

Gold prices retreated 1.36% to US$1232 per ounce Friday, but still significantly better than average price in the first quarter 2016 and fourth quarter 2015. Newmont fell almost 3% on NYSE, but Freeport McMoRan advanced 1.3%. That means Freeport has surged by 154% from its bottom in early January.

Copper, gauge of global manufacturing industry, has finally returned to above US$5025 per ton in London Metal Exchange (LME), the highest level in two months. Tin, meanwhile, firmed up to US$17475 per ton, while nickel advanced to US$9430 per ton. Shares of metal producers, however, retreated worldwide on profit taking.

WTI crude oil advanced to US$42.74 per barrel in Asian trading of Nymex Thursday (Apr 21) as US output falls for the sixth week. Brent crude also advanced 0.63% to US$46.09 per barrel, the highest level year-to-date. They contributed to further gains of crude palm oil. The benchmark July 2016 contracts of CPO gained RM21 to RM2730 per ton on the Bursa Malaysia Derivatives.

Shares of Freeport McMoRan jumped almost 9% in New York Tuesday (Apr 19), while Anglo American gained 8.5% earlier in London. BHP Billiton, the world’s largest mining company, meanwhile, reported 12% fall in copper production and 9% decline in nickel output for the March 2016 quarter.