Indonesia's Ministry of Energy and Mineral Resources (ESDM) has set the reference coal price (HBA) at $275.64/t for May 2022, down 4.42% or $12.76/t from $288.4/t a month earlier.
The reference price retreated slightly but still hit the second highest level after surging for three straight months. The price soared 207.15% from $89.74/t a year ago.
The HBA is a monthly average price based 25% each on Platts Kalimantan 5,900 kcal/kg GAR assessments, 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 amount of royalty producers have to pay for each tonne 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 Rebecca Liu Editing by Tammy Yang)
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