Russia and India Drive Coal Prices Up: Energy Market Turmoil.

There has been a notable shift in commodity prices, particularly those of oil and coal, over the past week. As reported by Refinitiv, coal prices ended last week at US$149.6 per ton and closed this week at a similar level of US$149.4 per ton. On Monday, however, coal prices reached their highest level of 2024 at US$153 per ton, representing a notable event in the market. The surge in coal prices was primarily driven by Russia's objective to increase coal exports to India in order to capitalize on the growing demand for fuel in the Asian country. Furthermore, the rise in coal prices was reinforced by a spike in oil prices. Russian Deputy Prime Minister Alexander Novak has indicated that Russia is keen to expand its coal exports to India, given China's plans to reduce its reliance on coal for power generation. India's dependence on coal to meet its electricity needs has intensified, with coal-based power plant output exceeding recent energy growth earlier this year.

Krisis Timur Tengah hingga Badai AS Bikin Batu Bara & Minyak Melesat (cnbcindonesia.com)

Global and Domestic Sentiments Dominate Indonesian Financial Market.

Next week, the Indonesian financial market will be influenced by sentiments from both domestic and international fronts, particularly concerning interest rates and trade balance data. In light of the aforementioned sentiments, Monday is not expected to yield any significant impacts. However, on Tuesday, the Central Statistics Agency (BPS) will release trade balance data for September 2024. In August 2024, Indonesia recorded a trade balance surplus of US$2.89 billion, marking the 52nd consecutive month of surplus. This was primarily due to an increase in exports, which reached US$23.56 billion, and a decrease in imports, which stood at US$20.67 billion. The surplus in August increased by US$2.4 billion compared to July, but remained below the same period last year. On Wednesday, Bank Indonesia (BI) will release the results of its Board Meeting.

Gak Bisa Tenang! Pelaku Pasar Nantikan Rilis Data BI & BPS (cnbcindonesia.com)

China Inflation Falls, Government Forced to Increase Stimulus.

China's inflation rate for September 2024 was lower than anticipated, indicating the necessity for continued policy support to address the ongoing deflationary pressures. The consumer price index saw a 0.4% increase, below the predicted 0.6%. Meanwhile, producer inflation declined by 2.8%, marking the second consecutive year of reduction. Core inflation, which excludes food and fuel prices, increased by 0.1%. These figures reflect weak domestic demand prior to the implementation of stimulus measures by policymakers in late September to revive the economy. China is currently experiencing its longest period of deflation since the 1990s, with overall economic prices decreasing for five consecutive quarters. In response, the government has taken the following measures:
1. Lowered interest rates
2. Provided support for the property and stock markets
3. Promised additional aid for the struggling property sector and debt-ridden local governments In contrast, food inflation rose by 3.3% in September compared to the previous month.

Permintaan Domestik Lemah, Inflasi China Lebih Rendah dari Perkiraan (kontan.co.id)