Coal Reference Price Rises to US$321.59 per Ton in August 2022
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The Ministry of Energy and Mineral Resources (ESDM) set the Indonesian Coal Reference Price (HBA) at US$321.59 per ton in August 2022. This represents an increase of US$2.59 per ton compared to July 2022.
According to the Ministry of ESDM, the coal price increase is due to uncertainty in gas supply to Europe. This has led several European countries to reactivate coal-fired power plants to anticipate an electricity crisis in their regions.
Furthermore, the Ministry of ESDM also observed a surge in coal demand from China, India, and South Korea, resulting from Russia's discounted coal offerings.
This is the third consecutive month where coal prices have remained above US$300 per ton. The HBA even reached its highest record of US$323.91 per ton in June 2022.
The HBA is the average price of the Indonesia Coal Index (ICI), Newcastle Export Index (NEX), Globalcoal Newcastle Index (GCNC), and Platt's 5900 in the previous month. The coal quality is standardized at 6322 kcal/kg GAR, 8% Total Moisture, 0.8% Total Sulphur, and 15% Ash.
"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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