The government sets its coal reference price (HBA) for January 2019 at US$92.41 per ton FOB, down from $92.51 per ton set in December 2018, according to Minister of Energy and Mineral Resources Decree No. 01/K/30/MEM/2019, a copy of which was obtained by Petromindo.com on Friday.
The HBA is the price cited for delivery period of January 1-31. Price for term contract is the average HBA over the past three months.
The coal reference price is based on coal with CV (GAR) of 6,322 kcal/kg, total moisture of 0.8 percent, and ash 15 percent. It is calculated based on the previous monthly average of four international coal indices: Indonesian coal index/ ICI 1, Platts 5900, New Castle Export Index, and Newcastle Global Coal Index.
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