Saturday, 08 January 11 THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal coal at US$ 112.40 per ton. The government of Indonesia has been publishing a monthly coal reference price (HBA) since February 2010 to be used by coal producers for all future spot and term coal sales contracts.
Coal reference price (HBA), the price has calculated based on a monthly average (previous month) of the Indonesia Coal price Index (ICI-1), Platts-1, Newcastle Export Index (NEX) and the New Castle Global Coal Index (GC) from the previous month. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur 0.8%, Ash Content 15.00% and delivery free on Board (FOB) Vessel basis spot contract. (supply within 12 months).
The declared coal reference price for January 2011 is US$ 112.40 per ton FOB vessel up by US$ 8.99 per ton or 8.69 percent compared to December 2010 Coal reference price. December 2010 coal reference price was at US$ 103.41 per ton.
The declared ICPR in this month was the highest since the government starts to declare ICPR ( HBA) price from February 2010. The lowest HBA was declared in April last year.
Government also declaring reference price for eight brands of Indonesia coal which are most commonly traded in the market. The price marker is used to calculate other 52 coal types with a quality similar to the coal price markers.
For term sales of above one year, the average of coal reference price for the last three months is used to set coal prices for a one-year contract.
For sales in barge, the reference price is reduced by barging and transshipment costs from barge to vessel.
The coal reference price, which has been established to fulfill the requirement of mining law 04/2009 and latest ministerial decree 17/2010 and also aims to increase government revenue from royalties from coal producers. (Updated News)
Click here for complete details of Indonesian coal reference price(cs)
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