Indonesia’s reference coal prices open 2026 higher across all grades
Thursday, January 1 2026 - 01:42 PM WIB
By Ranuh Rafiani Putri
The Indonesian government has set the Reference Coal Price (Harga Batubara Acuan/HBA) for the first period of January 2026 through the Minister of Energy and Mineral Resources Decree No. 458.K/MB.01/MEM.B/2025.
The January 2026 HBA levels increased across all coal calorific value categories compared with the second period of December 2025.
Coal with a calorific value of 6,322 GAR was set at USD 103.30 per tonne, up 2.46% from USD 100.81 per tonne. The 5,300 GAR coal price rose 3.28% to USD 72.23 per tonne from USD 69.93 per tonne.
Read also: HBA rises across all coal grades in late December
For lower calorific values, 4,100 GAR coal increased 3.54% to USD 47.05 per tonne from USD 45.44 per tonne, while 3,400 GAR coal edged up 0.31% to USD 35.13 per tonne from USD 35.02 per tonne.
The January 2026 pricing shows increases across all coal grades, with larger gains recorded in the mid-calorie segments, while lower-calorie coal prices showed relatively smaller changes.
Editing by Alexander Ginting