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Crisis in China Pushes Indonesian Coal Prices to Soar 33%


Jakarta

The Reference Coal Price (HBA) per November experienced a spike. The increase was 33 percent or US$ 53.38 per ton from the October price of US$ 161.63 to US$ 215.01 per ton.

The Ministry of Energy and Mineral Resources revealed that this increase was influenced by the arrival of winter and the coal crisis experienced by China, which had an impact on global coal prices.

“This price is the highest HBA level in decades. Demand from China continues to increase following the onset of winter and bad weather conditions have disrupted coal production and transportation activities in coal-producing provinces,” said the Head of the Bureau of Communications, Public Information Services and Cooperation (CLIK) Agung Pribadi in his statement, Monday (11/8/2021).

Other commodity factors, such as rising natural gas prices also have an influence in determining global coal prices.

“The supercycle still has the influence of pushing up basic commodity prices as a result of the new global economic growth post-pandemic,” he explained.

According to the Ministry of Energy and Mineral Resources, HBAs themselves continue to experience extraordinary rallies throughout 2021. Opened at US $ 75.84 per ton in January, HBAs increased in February to US $ 87.79 per ton, down to US $ in March. 84.47 per ton.

Furthermore, it continues to increase in a row until November 2021. In details, April at US$ 86.68, May US$ 89.74, June US$ 100.33, July US$ 115.35, August US$ 130.99 , September US$ 150.03, and October US$ 161.63.

Continued to next page.

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