Indonesia raised the monthly coal reference price for sales
in March by 1.15 percent, the second increase since February.
The Ministry of Energy & Mineral Resources of Indonesia sets the coal's
spot price benchmark for March 2012 at US$ 112.87 per ton, i.e. up by US$ 1.29 from
February 2012 price. However, the March HBA is 7.80 percent lower on Year-on-Year
basis.
This coal benchmark price was calculated coal with calorific value of
6,322kcal/kg (GAR), stated to be using formula based on the February 2012 index
average of ICI-1 (Indonesia Coal Index), Platts-1, NEX (Newcastle Export
Index), and GC (globalCoal Index).
The government of Indonesia has been publishing a monthly
coal reference price (HBA & HPB) since January 2009 to be used by coal
producers for all future spot and term contracts.
The March benchmark price for 5000 GAR coal is quoted at
$80.12 i.e. marginally up from the previous prices of $79.30/MT. The delivery
of the cargoes are made on a free on Board (FOB) Vessel basis and
applicable for spot contract, delivery between 1 – 31 March 2012.
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