Indonesia cuts benchmark coal prices for May’18 to USD 89.53/MT, down from USD 94.75/MT in Apr’18, the Energy and Mineral Resources Ministry announced on Friday, May 5, 2018.
“The benchmark price for this month is lower than the previous month because of rising domestic production in China and easing domestic coal consumption,” said Agung Pribadi, the ministry’s spokesman in a statement.
This was the second cut since Apr’18.
The ministry also cuts benchmark price for iron ore laterite/hematite/magnetite to USD 0.77/dmt for May’18, from USD 0.92/dmt in Apr’18.
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