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Indonesia government raises coal reference price by 1.16pct

Coal News - Published on Mon, 12 Mar 2018

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Antara News reported that government has raised coal reference price by 1.16% to USD 101.86 per ton in March from USD 100.69 per tonne in February. According to data from the Energy and Mineral Resources Ministry, based on the result of data analysis, the coal price hike was fuelled by high demand from other Asian countries. Coal reference prices and mineral reference prices showed an upward trend in March 2018.

Mr Agung Pribadi Chief of the Communication and Public Information Service Bureau at the Energy and Mineral Resources Ministry said that "Demand from China, India and Vietnam continues to increase. The increasing activities of coal-fired power plants in China are one of the causes of increasing consumption."

Mr Pribadi said that increase in the coal reference price is also the result of high rainfall. Mr Pribadi said that "Coal production is not maximum because of high rainfalls in several parts of the country. Minor disruption may affect coal production."

Coal reference price is obtained from the average Indonesia Coal Index Newcastle Export Index, Globalcoal Newcastle Index, and Platss 5900 a month earlier.

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Posted By : Nanda Koijam on Mon, 12 Mar 2018
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