JAKARTA - The Ministry of Energy and Mineral Resources announced an increase in Reference Coal Prices, for the February 2021 period, by 15.7% to US$ 87.79 per tonne.
Agung Pribadi, the Head of the Communication Bureau of the Ministry of Energy and Mineral Resources, said that the increase was influenced by a number of positive sentiments from within the country and abroad. "The sentiment of Commodity Supercycle, including the increase in gas prices, has also strengthened coal prices," said Pribadi through an official statement received by idnfinancials.com.
He added, the Commodity Supercycle sentiment would also have a positive impact on a number of commodities, especially mining.
In addition, the surge in coal demand from China also added a positive signal for this month's Reference Coal Prices. The reason, Pribadi said, was because China's current coal supply was not sufficient to meet the demand for power plants.
The increase in Reference Coal Prices for the February 2021 period was the continuation from the previous months. For information, Reference Coal Prices had experienced pressure due to Covid-19 pandemic in a number of countries. (KR/VA)