Indonesia's Coal Reference Price Increases by 7.83% in June 2024

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Erlina Fury Santika 25/06/2024 18:47 WIB

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Indonesia's Ministry of Energy and Mineral Resources (ESDM) has raised the Indonesian benchmark coal price by 7.83% in June 2024. However, prices for other coal grades have decreased.

Indonesia Coal Reference Price (HBA) (August 2023 - June 2024)

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Indonesia's Coal Reference Price Increases by 7.83% in June 2024

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Indonesia Coal Reference Price (HBA) (August 2023 - June 2024)

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The Indonesian Ministry of Energy and Mineral Resources (ESDM) has set the Indonesian Coal Reference Price (HBA) for June 2024 at US$123 per ton.

This price represents a significant increase of 7.83% compared to May 2024, which stood at US$114.06 per ton. However, the reference prices for all derivative classes have decreased.

Specifically, HBA I is set at US$88.65 per ton in June 2024, down from US$91.77 per ton in May 2024.

HBA II is set at US$54.79 per ton in June 2024, down from US$56.52 per ton in May 2024.

Finally, HBA III is set at US$35.82 per ton in June 2024, down from US$36.39 per ton the previous month.

This reference price is established through Indonesian Minister of Energy and Mineral Resources Regulation No. 131.K/MB.01/MEM.B/2024 concerning the Reference Price for Metal Minerals and Coal for June 2024, issued on June 19, 2024.

(Read also: Coal to Gold, MIND ID's 2023 Production Results)

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 quality equated to a calorific value of 6,322 kcal/kg GAR, total moisture 8%, total sulfur 0.8%, and ash 15%.

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, namely:

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

(Read also: Newcastle Coal Prices Strengthen in May 2024, Highest Since the Beginning of the Year)

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."