HBA coal reference price up 1.36%

The government set its coal reference price (HBA) for April 2016 at US$52.32 per ton FOB, 1.36 percent higher than $51.62 per ton set in March.

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.

Director General of Mineral and Coal at the Ministry of Energy and Mineral Resources Bambang Gatot Ariyono said that the increase in the HBA in the past couple of months may be temporary as the price of the commodity is expected to remain under pressure this year. (*)