The Indonesian Ministry of Energy and Mines Thursday set its September International Coal Price Reference for thermal coal at $86.21/mt, up 1.84% from August.
The ICPR is a monthly price average based 25% on Platts Kalimantan 1 (5,900 GAR) assessment, 25% on the Argus Indonesia Coal Index 1 (6,500 GAR), 25% on the Newcastle Export Index that was formerly the Barlow-Jonker index (6,322 GAR) of Energy Publishing, and 25% on the globalCOAL Newcastle (6,000 NAR) index.
The ICPR for thermal coal is the basis for determining the prices for 61 Indonesian coal brands.
Specifications for the ICPR coal are: Calorific value of 6,322 kcal/kg GAR, total moisture content of 8% as received, ash of 15% as received and sulfur of 0.8% as received.
Indonesian producers use the ICPR to calculate the royalties they have to pay for coal sold locally or overseas.
Source: Platts
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