JAKARTA. Coal reference price (HBA) of April 2021 showed a 2.59% increase month-on-month to USD 86.68 per tonne as a result of a trade war between Australia and China.
Agung Pribadi, the Head of Communication Bureau of Ministry of Energy and Mineral Resources (ESDM), claimed that the trade tension positively impacted Indonesia’s coal export to China. “It has been the main trigger causing HBA to went up by USD 2.19 per tonne,” Pribadi explained through a press conference.
To provide further details, the trade tension between Australia and China resulted from an order of international investigation regarding COVID-19 origin requested by Australia. The government of China then perceived the said order as a provocation. “The unofficial ban of the coal import from Australia has subsequently disrupted China’s production and logistics,” Pribadi further continued.
According to idnfinancials.com, the HBA has shown fluctuation since early 2021. In January, HBA was at USD 75.84 per tonne before reaching USD 87.79 per tonne in February and declining to USD 84.49 per tonne in March. (KR/ZH)