Indonesia's Ministry of Energy and Mineral Resources set its June thermal coal reference price, also known as Harga Batubara Acuan or HBA, at 96.61/t, up 28.03% year on year and 7.91% from May.
The HBA price was set $89.53/t in May and $75.46/t for June 2017. The reference price in June is higher than the average price of $82.95/t since the HBA was introduced in 2010.
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 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 sold.
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 Becky Du Editing by Tammy Yang)
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