JAKARTA (RambuEnergy.com) – Indonesia’s coal reference price for August continues upward trend, reaching its highest point so far this year, the Energy and Mineral Resources Ministry said.
The coal reference price (HBA) in the month reached US$107.83 per ton, 3.04% from previous month US$104.65 per ton and 28.4% from the same period last year at US$83.97 per ton.
The rise was driven by improved global energy price, in particular oil, which triggered a rise in other commodity prices. Spokesperson of the energy ministry Agung Pribadi said.
“The higher demand for coal from China and North Europe also pushed up the coal price,” said Pribadi.
The monthly price assessment reflects coal for loading free-on-board at Indonesian ports and is an average of four major world coal indices.
The coal price has been trending up since early this year. In the first six month to June, the average coal price stood at US$96.5 per ton compared to US$89.8 per ton in the same period last year.
Indonesia targeted to produce 485 million tons this year, higher than last year. In the six month to June, coal production reached 163.44 million tons, or 33.75 of full-year production target and 18% higher compared to the same period last year of 139 Mt. (*)