Indonesia's Ministry of Energy and Mineral Resources set its January thermal coal reference price, also known as Harga Batubara Acuan or HBA, at $95.54/t, up 10.8% year on year.
The HBA is a monthly average price based 25% each on Platts Kalimantan 5,900 kcal/kg GAR assessment, Argus-Indonesia Coal Index 1 (6,500 kcal/kg GAR); Newcastle Export Index (6,322 kcal/kg GAR) and globalCOAL Newcastle (6,000 kcal/kg NAR).
The reference price of thermal coal in January increased, which set a new record since December, 2016.
The HBA price for thermal coal is the basis for determining the prices of 77 Indonesian coal products and calculating the royalty producers have to pay for each metric ton of coal they sell.
It is based on 6,322 kcal/kg GAR coal with 8% total moisture content, 15% ash as received, and 0.8% sulfur as received.
(Writing by William Gao Editing by Jessie Jia)
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