Jakarta (ANTARA News) - The government has raised coal reference price by 1.16 percent to US$101.86 per ton in March from US$100.69 per ton in February, according to data from the Energy and Mineral Resources Ministry on Thursday.
Based on the result of data analysis, the coal price hike was fueled by high demand from other Asian countries.
Coal reference prices and mineral reference prices showed an upward trend in March 2018.
"Demand from China, India and Vietnam continues to increase. The increasing activities of coal-fired power plants in China is one of the causes of increasing consumption," Chief of the Communication and Public Information Service Bureau at the Energy and Mineral Resources Ministry, Agung Pribadi said.
He said the increase in the coal reference price is also the result of high rainfall. "Coal production is not maximum because of high rainfalls in several parts of the country. Minor disruption may affect coal production," he said.
Coal reference price is obtained from the average Indonesia Coal Index (ICI) Newcastle Export Index (NEX), Globalcoal Newcastle Index (GCNC), and Platss 5900 a month earlier.
Meanwhile, the average mineral price of nickel for March 2018 is set at US$13,444.52 per dry metric ton (dmt), up 8.2 percent from US$12,425.75 per dmt). Kobalt price has been set at US$80,797.62, up 6.2 percent from US$76,075, while the price of lead rose 2 percent from US$2,552.03 per dmt to US$2,602.88.
Source: ANTARA News