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Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 117.61 per ton, which was 3.61 percent lesser than April 2011 price of US$ 122.02.
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 contracts. The May HBA was 27.73 percent higher Y-o-Y.
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 and applicable for spot contract, delivery between 1 - 31 May 2011.
Any deliver of cargo after 31 May, must be used June 2011 HPB unless the deliveries fall under term contract.
Director General Mineral and Coal have declared today coal reference price for May 2011. The declared HBA was at US$ 117.61 per ton FOB vessel a marginal drop of US$ 4.41 per ton or down 3.61 percent compared with April 2011 Coal reference price. Government has taken around nine days to release this month HBA.
The declared ICRP for this month was dropped by US$ 0.41 per mt and it was the third continues drop since March 2011.
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are act as benchmark and used to calculate other 52 coal types with a quality similar to the coal price markers.
For sales in barge, the reference price is reduced by barging and transhipment 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.
Click here for complete details of Indonesian coal reference prices since Feb 2010.(cs)
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Thursday, 12 March 09
ANALYSIS-FIRST NEW JAPAN COAL DEAL MAY NOT SET BENCHMARK - FOREXPROS.COM
* Informal coal-deal practice may come to an end this year
* Buyers expected to ask for a discount
* Biggest losers may be Chinese coal suppli ...
Thursday, 12 March 09
DEPARTMENT RECEIVES REPORT FROM GEOLOGICAL BODY AND NEDO - ESDM
The Geological Body of the Department of Energy and Mineral Resources have presented their Joint Study on Evaluation of Coal Resources and Reserves ...
Wednesday, 11 March 09
TENAGA SHARES CLIMB AS LOWER COAL PRICES CUT COSTS - BLOOMBERG
Bloomberg reported that, Tenaga Nasional Bhd., Malaysia’s state-controlled utility, climbed the most in a month in Kuala Lumpur trading as coal ...
Wednesday, 11 March 09
POSCO WINS 63% CUT IN PULVERIZED COAL PRICES, MACQUARIE SAYS - BLOOMBERG
Bloomberg reported that, Posco, Asia’s third-biggest steelmaker, has settled the first pulverized coal contracts for 2009 at $90 a metric ton ...
Wednesday, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...
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