Government sets reference coal price at US$91.80 per ton

Jakarta (ANTARA News) - The Energy and Mineral Resources Ministry set the reference coal price (HBA) at US$91.80 per ton for February 2019, lower than the reference of $92.41 per ton in January under its Decree No. 18 K/30/MEM/2019.

Under the decree, the ministry also set the reference metal mineral prices (HMA) for 20 metal minerals.

"HBA fell $0.61 per ton, from $92.41 per ton in January 2019," Chief of the Communication, Public Information Service, and Cooperation Bureau of the Energy and Mineral Resources Ministry Agung Pribadi stated here on Wednesday.

HBA for February is lower than that for January, partly due to the policies of China and India to restrict coal imports.

"The two countries policy to use locally produced coal has had an impact on the reduction of HBA for this month," he pointed out.

In addition, the decline in HBA was also the result of the movement of variables forming HBA including the Indonesia Coal Index (ICI), Newcastle Export Index (NEX), Globalcoal Newcastle Index (GCNC), and Platss 5900 in the previous month. The quality is equal to coal, with a caloric value of 6,322 kilocalories per kilogram GAR, with total moisture content of eight percent; total sulphur, 0.8 percent; and ash, 15 percent.

The decree will serve as the basis to calculate the coal and mineral direct sales for the next one month.

The decree also set the HMA for cobalt, lead, and zinc that also declined. The cobalt price is set at $45,973.68 per dry metric ton (dmt), down from $55,261.36 per dmt in January; the lead price is set at $1,965.18 per dmt, down from $1,948 per dmt; and zinc price is set at $2,517.74 per dmt, down from $2,631.95 per dmt.

Source: ANTARA News

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