Benchmark Coal Price Down Slightly by 0.71% in February 2024

The Indonesian Ministry of Energy and Mineral Resources (ESDM) has set the February 2024 Coal Reference Price (HBA) at US$124.95 per ton. This represents a slight decrease of approximately 0.71% compared to January 2024's price of US$125.85 per ton.

This slight decrease is due to a lower HBA II. The breakdown by class is as follows: HBA I is US$87.65 per ton in February 2024, up from US$87.36 per ton in January 2024.

HBA II is US$57.86 per ton in February 2024, down from US$58.56 in January 2024.

Finally, HBA III is US$37.54 per ton in February 2024, up from US$37.09 per ton previously.

Previously, the HBA was determined based on the average of the Indonesia Coal Index (ICI), Newcastle Export Index (NEX), Globalcoal Newcastle Index (GCNC), and Platt's 5900, with standardized quality at a calorific value of 6,322 kcal/kg GAR, 8% total moisture, 0.8% total sulfur, and 15% ash.

The HBA is now calculated based on the average of the realized coal selling price from the previous month (70% proportion) and the realized price from two months prior (30% proportion).

The HBA is also differentiated into four categories based on coal quality:

* HBA: calorific value equivalent of 6,322 kcal/kg GAR, 12.26% total moisture, 0.66% total sulfur, and 7.94% ash.
* HBA I: calorific value equivalent of 5,300 kcal/kg GAR, 21.32% total moisture, 0.75% total sulfur, and 6.04% ash.
* HBA II: calorific value equivalent of 4,100 kcal/kg GAR, 35.73% total moisture, 0.23% total sulfur, and 3.90% ash.
* HBA III: calorific value equivalent of 3,400 kcal/kg GAR, 44.30% total moisture, 0.24% total sulfur, and 3.88% ash.

This reference price was established through Indonesian Minister of Energy and Mineral Resources Decree No. 29.K/MB.01/MEM.B/2024 concerning the Reference Price for Metal Minerals and Coal for February 2024, on February 15, 2024.

(See also: Indonesian Coal Reference Price Up 7.21% at the Start of 2024)