Coal price will be stable until Q1 2012, APBI says

Indonesian coal mining association (APBI) said that the coal price is expecting to be stable until the first quarter of next year, APBI?s chairman Bob Kamandanu told Petromindo.Com.

The world?s coal price will be stable at around US$110-125 per tonnne. The lowest coal price will not be lower than $110 per tonne and the highest coal price will not be more than $125 per tonne, he said.

According to him, India's coal import is expecting to increase further to 100 million tonnes in next year, from this year?s estimate of 70 million tonnes, meanwhile, China's coal import will be flat around 50-60 million tonnes.

Around 70 percent of Indian coal import is coming from Indonesia.

?India is really desperate of coal but not with China,? he said. China demand will slow down as it is expected that China's economic growth for next year will not be higher compared to this year?s growth.

Indonesia coal production is estimated to be around 340 million tonnes this year and will be the same figure for next year as some major Indonesian coal producers are still building their mine infrastructures. ?In 2013, there will be higher coal production from Indonesia. It is estimated to be around 380 million tonnes,? Bob added. (denny)