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Indonesia Coal Benchmark Price for August Declines to Lowest Ever

Coal News - Published on Thu, 06 Aug 2020

Image Source: Indonesia Coal Benchmark Price Coronavirus COVID19
Indonesia’s energy and mineral resources ministry announced that Indonesia set its August coal benchmark price at USD 50.34 per tonne, the lowest since at least 2016 and almost a third below the level set a year earlier. In July, Indonesia’s coal benchmark price was set at USD 52.16 per tonne, the lowest since June 2016.

An energy ministry spokesman attributed the decline to the Covid-19 pandemic, which had resulted in a sharp drop in demand from importing countries and an increase in stockpiles. Ministry spokesman Agung Pribadi said “The decline is still due to the COVID-19 pandemic which has resulted in falling demand in several coal importing countries, while coal stocks in the global market have also increased.”

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Posted By : Yogender Pancholi on Thu, 06 Aug 2020
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