Indonesia sets late-March coal benchmark prices, mostly higher
Monday, March 16 2026 - 09:12 AM WIB
By Ranuh Rafiani Putri
The Energy and Mineral Resources Ministry has set its reference coal prices (HBA) for the second half of March, with most benchmarks edging higher compared with the first half of the month.
The prices were stipulated in Ministerial Decree No. 124.K/MB.01/MEM.B/2026 on reference metal mineral prices and reference coal prices for the second period of March 2026, according to a document obtained by Petromindo.com on Monday.
The benchmark HBA for coal with a calorific value of 6,322 kcal/kg GAR, total moisture of 12.26%, sulfur content of 0.66% and ash of 7.94% was set at $103.01 per tonne, slightly up from $102.37 per tonne in the first half of March.
Read also: Govt sets early March coal benchmark prices, mixed changes from late February
HBA I, with a calorific value of 5,300 kcal/kg GAR, total moisture of 21.32%, sulfur of 0.75% and ash of 6.04%, was set at $71.55 per tonne, compared with $71.29 per tonne previously.
HBA II coal, with a calorific value of 4,100 kcal/kg GAR, total moisture of 35.73%, sulfur of 0.23% and ash of 3.90%, was priced at $48.32 per tonne, rising from $47.64 per tonne in the prior period.
Meanwhile, HBA III, the lowest calorific category at 3,400 kcal/kg GAR, total moisture of 44.30%, sulfur of 0.24% and ash of 3.88%, was unchanged at $34.25 per tonne.
Indonesia revises its coal benchmark prices twice a month. The HBA serves as a key reference for coal sales transactions and as the basis for calculating state royalties from coal production.
Editing by Reiner Simanjntak