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The benchmark price of domestic coal (6322 kcal) reached US$100.69/ton in February 2018. This is the highest price in the last 14 months. The last time the benchmark HBA coal price was above US$100/ton was in December 2016, at US$101.69/ton.
Increased demand in the Asian market, particularly in China, and the rise in global crude oil prices to above US$60 per barrel have pushed the benchmark price of 6322 kcal domestic coal above US$100/ton. The approaching winter season in China and increased industrial needs in India are driving up global coal prices.
The rise in coal prices will increase the cost burden for Perusahaan Listrik Negara (PLN, Indonesia's state-owned electricity company). This is because approximately 60% of PLN's power plants use coal as fuel. If electricity tariffs are not increased by next year, it could burden the finances of the state-owned company.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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