JAKARTA. The Ministry of Energy and Mineral Resources (ESDM) announced a cut in the coal reference prices (HBA) by 7% to as low as US$ 61.11 per ton for May 2020, from US$ 65.77 per ton in April 2020.
Agung Pribadi, Head of the Communication Bureau of the Ministry of Energy and Mineral Resources, said the cut was made due to the condition of the world economy.
Pribadi explained that coal prices had risen to US$ 67.08 per ton in February 2020. But in April and May, it declined.
The price will be used for spot sales during May using the Free on Board mechanism on the shipping vessel. The price calculation has also taken into account four general indices (ICI, NEX, GCNC, and Platt’s 5900). (KR/AR)