JAKARTA (rambuenergy.com – The Energy and Mineral Resources Ministry (ESDM) has set Coal Reference Price (HBA) for February at US$50.92 per ton, down 4.2 percent from US$53.20 per ton in previous month.
Director for Coal Business at the energy ministry Adhi Wibowo said the HBA for February is lower than in January at US$50.92 per ton.
Adhi said the weakening of Indonesia Coal Reference price is affected by the average international index, namely Indonesia Coal Index (ICI), Index Platt59, New Castle Global Coal (GC) dan New Castle Export Index (NEX). The coal reference price is determined based on the four index.
He noted that the oversupply of coal in the international market has driven the coal price down. Australia, he said, has boosted its coal production.
The Indonesia Coal Reference price (HBA) has been trending down. The highest coal reference price was recorded in 2011 at US$118.4 per ton and fell to US$63.84 per ton in January 2015 and continued to slide since then. (*)