HBA coal reference price down 4.29%
Wednesday, February 10 2016 - 01:17 AM WIB
The government set its coal reference price (HBA) for February 2016 at US$50.92 per ton, down 4.29 percent from $53.2 per ton in the previous month. The February HBA is also the lowest since the reference price was introduced in 2009.
Director of Coal Management and Development at the Ministry of Energy and Mineral Resources Adhi Wibowo said on Tuesday that the declining HBA is in line with the declining trend in the price of coal in the international market due to a combination of oversupply situation and subdued demand.
He said that international indices that form the HBA have continued to decline so far this month.
The coal reference price is based on coal with CV (GAR) of 6,322 kcal/kg. It is calculated based on the monthly average of four international coal indices: Indonesian coal index/ ICI 1, Platts-1, New Castle Export Index, and Newcastle Global Coal Index. (*)