The coal price will have serious difficulty to rise as long as crude oil prices remain low and China's economy remains in slowdown-mode. Weak global oil prices (expected to remain below USD $40 per barrel this month) - and the strong US dollar amid looming US monetary tightening - give a bad signal to other commodities, including coal, while the world's largest energy consumer China is struggling to combat its economic slowdown implying limited global coal demand.

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Cement sales in Indonesia climbed 4.7 percent (y/y) to 6.1 million tons in November 2015 supported by rising cement sales in all regions apart from the Moluccas and Papua. Widodo Santoso, Chairman of the Indonesian Cement Association (ASI), said domestic cement demand rose sharply in November despite seeing some rainfall (which usually leads to delays in development of infrastructure and other construction projects). Santoso says this rise is due to improved government spending on infrastructure projects.

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Asian stock indices - including Indonesia's benchmark Jakarta Composite Index which reopened after a market holiday - were mostly in red territory on Thursday (10/12) as investors are cautious ahead of the looming US interest rate hike, expected to be decided upon at the Federal Reserve's next policy meeting (15-16 December), as well as low oil prices and falling US stocks overnight. Moreover, the central bank of China allowed its yuan to depreciate further (to a near four-month low), hence resulting in the resurgence of some fears of a currency war in Asia.

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Indonesian motorcycle sales declined 8 percent year-on-year (y/y) to 535,682 units in November 2015 from 582,331 units in the same month last year. In the first 11 months of 2015, Indonesian motorcycle sales stand at a total of 5.6 million units, down 18.5 percent (y/y) from sales in the same period last year, reflecting weakened purchasing power in Southeast Asia's largest economy amid the economic slowdown, weak commodity prices, and high inflation during the first three quarters of the year. The Indonesian Motorcycle Industry Association (AISI) expects to see 6.3 million sold motorcycle units in full-year 2015.

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