World's biggest coal exporter – Indonesia may see a fall in coal price in coming weeks, owing to decreasing demand. As the Indonesian bituminous coal with a calorific value of 5,800 kilocalories a kilogram (maximum 2% sulfur) averaged USD 69 per metric ton (MT) in the week ended June 7th down from USD 69.70/MT in the week ended May 24th.
People from industry are also expecting that the price may decline in the upcoming weeks as the demand for coal has lessened in the market.
Sub-Bituminous Coal with a heating value of 4,500 kilocalories a kilogram (maximum 1% sulfur) averaged USD 48/MT in the same week, from USD 47.5/MT the week ended May 24, 2013. Also coal with a calorific value of 4,000 kilocalories a kilogram (0.5% sulfur) averaged USD 39/MT, falling from USD 40/MT in the previous two weeks.
Coal at the Australian port of Newcastle, the benchmark grade calorific value of 6000 NAR kilocalories a kilogram, slid 40 cents to USD 86.4/MT in the week ended June 7, 2013
The Directorate General of Coal and Minerals at the energy and mineral resources ministry said that Indonesia cut its benchmark coal price for June to USD 84.87/MT from USD 85.33/MT in May.
It was the lowest level since December last year, according to the ministry's data. Indonesia Coal Indonesian prices are on a gross-as-received and free-on- board basis at Kalimantan or Sumatra, Indonesia's two main coal- producing regions.
-Sourced
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