Indonesian government has again slashed its benchmark Coal prices (HBA) by USD 1.2/MT to USD 73.6/MT for May, 2014 deliveries.
HBA has declined by around 10.1% in last 4 months and around 13.7% compared to previous year.
The Indonesian Coal reference price (HBA) provided by the Ministry of Energy & Mineral Resources of Indonesia has dropped to the lowest level since November, 2009. Around 5 years ago, HBA touched all time lowest at around USD 62.8/MT.
International low Coal prices are pulling down Indonesian prices despite exporting Coal around 32-34 MnT per month.
India has imported around 17.9 MnT of Coal in April and around 62% to 11 MnT of Coal has been imported from Indonesia.
Gujarat based Adani Group has imported maximum quantity of around 4.2 MnT.
During the month of April, Coal trade prices remain at the same level with no major changes. Indonesian 4,200 GAR Coal is trading at around USD 36.5-37/MT on FOB and USD 51-52/MT CFR India. Its CFR India prices have declined by around 5.4% compared to same period of last year.
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