JFX plans third coal bid this month

The Jakarta Futures Exchange plans to hold a third coal bid this month after the previous tenders failed to make transaction, Bisnis Indonesia reported on Friday.

The paper quoted JFX President Director Rana Krishna as saying that in the previous tenders, the seller and buyers failed to reach agreement on the price.

State-controlled coal giant PT Bukit Asam Tbk (PTBA), so far the only coal producer selling part of its output on the bourse, is set to offer 70,000 tons of coal with calorific value of 7,000 kcal/kg via the JFX on-line coal trading system at a price of US$89 per ton (about 30,000 tons available) and $90 per ton (40,000 tons), the paper said. (*)