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Indonesia Slightly Raises Coal Reference Price for March 2026 Period II

Erlina Fury Santika 26/03/2026 12:16 WIB

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The Ministry of Energy and Mineral Resources set the reference price for Indonesian coal at US$103.01 per ton for the second period of March 2026. This is a slight increase from earlier this month.

The Reference Coal Price/HBA of Indonesia (January 2025-March 2026)

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The Reference Coal Price/HBA of Indonesia (January 2025-March 2026)

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The Ministry of Energy and Mineral Resources (ESDM) set the Indonesian benchmark coal price (HBA) for the second period of March 2026 at US$103.01 per ton.

This price was slightly increased by 0.62% from the initial period of March 2026, which was US$102.37 per ton.

In this final period of March, almost all classes of coal were raised.

HBA I was set at US$71.55 per ton. An increase from the initial period of March 2026, which was US$71.29 per ton.

Next, HBA II at US$48.32 per ton. Also an increase from the previous one, which was US$47.64 per ton.

Finally, HBA III at US$34.25 per ton. Stagnant from the initial period of March 2026.

This reference price was set through the Decree of the Minister of Energy and Mineral Resources of the Republic of Indonesia (Kepmen ESDM) Number 124.K/MB.01/MEM.B/2026 on Reference Prices of Metal Minerals and Coal Prices for the First Period of February 2026, on March 13, 2026.

HBA is set based on the average of the Indonesia Coal Index (ICI), Newcastle Export Index (NEX), Globalcoal Newcastle Index (GCNC), and Platt's 5900, with quality equivalent to a calorific value of 6,322 kcal/kg GAR, total moisture of 8%, total sulphur of 0.8%, and ash of 15%.

HBA is also divided into four categories based on coal quality, namely:

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

Editor : Erlina Fury Santika

"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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Indonesia Slightly Raises Coal Reference Price for March 2026 Period II

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