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Indonesia: Coal Mining Update Indonesia: Coal Price Rises in July
Indonesia: Coal Mining Update Indonesia: Coal Price Rises in July
Mon, 11 July 2016 – Indonesia’s benchmark thermal coal price (harga batubara acuan, HBA), the monthly reference price that is set by the Ministry of Energy and Mineral Resources, rose 2.29 percent (m/m) to USD $53 per metric ton (FOB) in July 2016. The Energy Ministry stated that the higher coal price is supported by the recovery in crude oil prices in May and the start of June, as well as a (temporary) rise in coal demand from India and China. However, compared to one year ago, the coal price is still down by more than 10 percent (y/y).
Hendra Sinadia, Deputy Executive Director at the Indonesian Coal Mining Association (APBI), said the global oversupply (in coal) persists and therefore it is difficult for the coal price to rise significantly, even though some players have cut their coal output. Read More?