Indonesia's Coal Reference Price Falls in April 2023

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Adi Ahdiat 26/04/2023 14:01 WIB

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In April 2023, Indonesian benchmark coal prices decreased, both for high and low calorific value coals. This occurred in line with the decline in global coal prices.

Indonesia Coal Reference Price (March-April 2023)

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Indonesia's Coal Reference Price Falls in April 2023

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Indonesia Coal Reference Price (March-April 2023)

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The Indonesian government implemented a new formula for determining the Coal Reference Price (HBA) starting in March 2023.

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

However, starting in March 2023, the HBA is calculated based on the average realized coal selling price from the previous month (70% proportion), and the realized price from two months prior (30% proportion).

The HBA is also categorized into three types based on coal quality:

* HBA: Quality standardized to a calorific value of 6,322 kcal/kg GAR, 12.58% total moisture, 0.71% total sulfur, and 7.58% ash.
* HBA I: Quality standardized to a calorific value of 5,200 kcal/kg GAR, 23.12% total moisture, 0.69% total sulfur, and 6% ash.
* HBA II: Quality standardized to a calorific value of 4,200 kcal/kg GAR, 35.29% total moisture, 0.2% total sulfur, and 4.21% ash.

The following details the Indonesian Coal Reference Price in April 2023 based on the new calculation formula:

* HBA: USD 265.26 per ton
* HBA I: USD 102.53 per ton
* HBA II: USD 87.81 per ton

In April 2023, Indonesian coal reference prices in all categories decreased compared to March 2023, as shown in the graph above.

This decrease occurred in line with the decline in global coal prices throughout the first quarter of this year.

According to World Bank data, the average Newcastle coal price, a global benchmark, was USD 187.23 per ton in March 2023.

This price decreased by 9.8% compared to the previous month (month-on-month/mom), and even plummeted by 41% compared to the average price at the beginning of the year (year-to-date/ytd).

Editor : Adi Ahdiat

"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."