ICMA sees coal price at US$80 next year
Monday, November 21 2016 - 04:02 AM WIB
By Adianto P. Simamora
Chairman of the Indonesia Coal Mining Association (ICMA), Pandu Sjahrir said that the thermal coal price would stay at around US$80 next year.
?I think this price may be in the (US$) 80 range for next year,? Pandu told Petromindo.com on Monday
He underlines that the current increase in coal price was due to the Chinese government?s intervention that mainly tightens domestic market, coupled with a lack of supply from producers, especially Indonesia.
The government sets its coal reference price (HBA) for November 2016 at US$84.89 per ton FOB, higher than $69.07 per ton set in October.
Editing by Reiner Simanjuntak