JAKARTA - The benchmark coal price (HBA) has continued its rally in price, increases for four consecutive months to the level of US$ 75.84 per tonne in January 2021 period.
Agung Pribadi, the Head of Communication Bureau of Ministry of Energy and Mineral Resources (ESDM), explained that the increase was supported by global economic conditions that showed recovery. "After almost a year of limited economic activity, the market started to recover, especially in China," said Pribadi via a press release.
In addition, China, a country that has an important role in coal sales from Indonesia, is currently in a tense trade relationship with Australia. "This sentiment is increasingly strengthening," said Pribadi.
For information, the HBA had fallen to its lowest level in 2020, which recorded average at only US$ 58.17 per tonne, the lowest since 2015. (KR/VA)