Steel rebar and hot-rolled-coils (HRC) steel moved different ways so far. Steel rebar moved south as some countries imposed higher import tariffs on Chinese products, while HRC steel went north, gaining 28%. All of these would significantly impacting Indonesian economy, because iron & steel is now third largest export commodity behind thermal coal and palm oil. 

The bottled water industry in Indonesia is a highly competitive market dominated by major brands such as Aqua (Danone), Le Minerale (Mayora), Cleo (Tanobel), and Ades (Coca-Cola Amatil). Amid this intense competition, PT Wahana Pronatural,Tbk (WAPO)-a listed company that linked to families controlling Kapal Api Group- has launched Air Alam, a new bottled water brand poised to shake up the market. 

Minister of energy & mineral resources Bahlil Lahadalia, who is also head of Task Force for downstream industry development (which is strange given the existence of ministry of investment & downstream), claimed that he has proposed some downstream projects to President Prabowo Subianto that would be financed by Danantara. 

Sanken Electric Co Ltd has decided to close down its manufacturing facility in MM2100 industrial estate, Cikarang, West Java by June 2025. The announcement from ministry of industry was made when a big Japanese business delegation is reportedly in the country to meet the President’s brother.

President Prabowo Subianto talked about investments from Danantara in high-impact projects, including renewable energy, several times in the past few days. Details were not provided, but the country’s fast growing metal processing needs bigger supply of green energy so they can enter the global supply chain.

Shares of PT Merck Tbk (MERK), subsidiary of Germany’s Merck AG, ended flat at Rp3,470 on Thursday (Feb 13) to make a market capitalisation of Rp1.55 trillion only (less than US$100 million), nothing compared to its parent (60.2 billion Euros). Merck is among the oldest issuers listed on the Indonesia Stock Exchange (IPO in 1981). 

China’s Green Eco Manufacture (GEM) will invest approximately US$293.2 million to expand the annual capacity of its ternary precursor plant in Indonesia and establish a joint venture (JV) with EcoPro, a South Korean EV battery material firm.

Two leading biopharmaceutical companies from China have recently secured registration of their respective products from Indonesian Food & Drug Administration (BPOM), intensifying competition in the market.

US President Donald Trump plans to impose 25% tariffs on all steel and aluminium. It remains unclear whether Indonesia, an exporter of steel and alumina (key raw material for aluminium), will be subject to the tariffs.