Nickel: Production cut & the rise of sulphuric acid
Nickel ended slightly lower by 0.47% to US$18,150 on the London Metal Exchange (LME) Tuesday (Apr 21). That means the commodity gained 15% year-on-year. Input costs for nickel smelters, however, have increased substantially higher.
Strong Q1 for Astra Otoparts
Shares of automotive component manufacturer Astra Otoparts (AUTO) ended higher by 2.94% to Rp2,800 Tuesday (Apr 21) as investors responded positively the company’s relatively strong performance in the first quarter.
Krakatau Posco: Improved, but not enough
POSCO, one of the world’s largest steel producers, has reportedly pledged to add US$4 billion investments in Indonesia until 2029 during President Prabowo’s recent visit to South Korea.
FITT, from hotel to mining
Shares of PT Hotel Fitra International Tbk (FITT) jumped 24.73% Tuesday (April 14) to make market capitalization of Rp605.18 billion after the company announced plans to move into the mining sector. The rally continued Wednesday and Thursday, but retreated this morning.
Those continue to expand
Vast majority of companies surveyed by Indonesian Association of Employers (APINDO) said they have no plans to expand businesses in the coming years, pointing to regulatory and policy uncertainties, but some continued to grow.
China’s new project & bankruptcies of two melamine producers
Sichuan Golden Elephant Sincerity Chemical Co. Ltd, through its subsidiary PT GEABH Joint Technology, has recently conducted a groundbreaking ceremony of melamine project in Gresik, East Java, being Indonesia’s first melamine project in decades.
Methanol: Talk the Talk
The country’s leaders have talked about building new methanol plants for more than three decades now, but none has been materialized. The existing methanol plants are those built during the Soeharto regime.
Reality check on the overtly inflated Impack Pratama
Haryanto Tjiptodihardjo, controlling owner of plastic processor PT Impack Pratama Tbk (IMPC), was listed 11th richest Indonesian by Forbes magazine in 2025 ahead of real rich persons like Lim Haryanto (Harita Group), TP Rachmat (Triputra Group), and even Sukanto Tanoto (RGE Group).
Krakatau Steel yet to see the light
State-owned steel manufacturer Krakatau Steel (KRAS) recorded net profit of US$325.5 million last year against loss of US$155 million in 2024, but that was attributable to non-cash gain from debt restructuring. The company’s operations actually worsened.
Indocement & Cemindo ‘improved’, Semen Indonesia ‘worsened’
Cement industry, no doubt, remains under pressure due to lower government investments in infrastructure and weaker purchasing power for property products. Three major cement manufacturers listed on the Indonesia Stock Exchange (IDX) were forced to dismiss over 1,000 workers last year.