24 October 2023 – Indonesia plans to implement further export restrictions to further strengthen its domestic manufacturing industry. Poland’s industrial production is growing significantly. And natural gas prices in Europe fell again yesterday.
Indonesia plans to implement new export restrictions on schedule
President Joko “Jokowi” Widodo discussed Indonesia’s downstream policy to improve domestic natural resource processing at the BNI Investor Daily Summit 2023 today. He stressed the need to ensure compliance with this plan, with export restrictions on raw materials being key. For example, the export of unprocessed nickel ore has already been banned to strengthen the domestic industry. In 2023, bauxite was added to this export ban. Tin, copper and palm oil are to follow soon.
Downstream policy to be expanded
Indonesia intends to extend the current downstream policy to other sectors such as agriculture and marine technology. In addition, the Ministry of Investment presented a roadmap at the Summit to promote domestic processing of 21 commodities.
Poland’s industrial production grows significantly
Industrial production in Poland grew by 8.4% in September compared to the previous month. Polish retail sales were 3.6% higher than a year earlier. The dwindling upward pressure on prices in recent months as well as real increases in purchasing power are increasingly boosting the willingness of Polish households to consume.
Poland’s monetary watchdogs on the verge of further easing?
Analysts expect Poland’s monetary watchdogs to push ahead with the easing started in September in the coming quarters. If the expected decline in capital market interest rates gradually has an effect on corporate investments and consumer demand, this could also strengthen the sales and profit expectations of companies listed on the Warsaw Stock Exchange.
Cold weather stays away – gas prices soften
European natural gas prices on the Dutch futures exchange TTF fell yesterday temporarily by more than five per cent to almost 48 euros per megawatt hour due to the mild weather forecasts. The weather in Europe is expected to remain mild until the beginning of November, which should keep gas demand correspondingly low. In addition, the gas storage facilities of the EU member states are almost completely full.
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