Jakarta, CNBC Indonesia – Indonesia’s Reference Coal Price (HBA) in June 2022 is set to increase 17% or US$ 48.27 per ton to US$ 323.91 per tonne from last May, which was US$ 275.64 per ton. This is because the country of India is being hit by a heat wave, causing an electricity crisis.
India is known to have increased the number of coal imports due to the tight supply of coal from domestic producers for its power plants.
Head of the Communications, Public Information Services, and Cooperation Bureau (KLIK) of the Ministry of Energy and Mineral Resources, Agung Pribadi, said apart from India, the value of HBA is also still influenced by the condition of China’s coal needs.
“Their demand has also increased because the PLTU there has begun to accumulate coal stocks for the fall. Moreover, there is a policy of eliminating coal import taxes in China for the next 9 months,” Agung said in an official statement from the Ministry of Energy and Mineral Resources, quoted on Sunday (5/6/2022) .
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The rising coal price was also influenced by the fact that buyers from Europe began to actively seek coal supplies from Asia, as a result of the European Union which issued a policy to stop coal imports from Russia effective from next August.
Agung explained that during the last six months, the HBA chart continued to climb. Starting from January 2022 at US$ 158.50/ton, rising to US$ 188.38/ton in February.
Furthermore, March touched the figure of US$ 203.69/ton, April of US$ 288.40/ton, and lastly in May it was at the level of US$ 275.64/ton.
“This June HBA will be used directly in the sale and purchase of coal commodities (spot) for one month at the point of delivery of sales on a Free on Board basis on a transport vessel (FOB Veseel),” explained Agung.
(pgr / pgr)
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