JAKARTA (RambuEnergy.com) – The Energy and Mineral Resources Ministry has set the January coal reference price, known as HBA, to US$92.41 per ton, or 0.11% lower against the December price of US$92.51 per ton.
The decline was driven by the lower demand from Indonesia’s major coal buyers, in particular, China, the ministry’s spokesperson Agung Pribadi said.
In addition to the coal import policy of China, the demand from other countries remained flat in the month.
The monthly price assessment, which reflects coal for loading free-on-board at Indonesian ports, was 3.27% lower than in the same month last year at US$95.54 per ton.
The Indonesian coal price has been trending down over the past five months, from a peak of US$ 107.83 per ton in August to US$104.81 per ton in September, US$100.89 per ton in October and US$97.90 per ton in November, the ministry data shows.
The January coal price has reached its low since May last year.
Director Executive of the Indonesian Coal Producers Association Hendra Sinadia said that the Chinese government policy to tighten coal imports, in particular, low-calorie coal, has put pressure on Indonesia’s coal price.
“The Chinese government policy will continue to influence coal price since the country is a major buyer for Indonesian coal,” he said.
Indonesia is the world’s largest thermal coal exporter. (*)
Written by Staff Writer
Edited by Roffie Kurniawan