TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Economy in brief: Coal reference price down 2.97%

  • The Jakarta Post

Jakarta   /   Tue, November 6 2018   /  03:10 am

The government has set the Indonesian coal reference price for November at US$97.90 per ton, 2.97 percent lower than the price in the previous month, which was set at $100.89 per ton as a result of the global coal price, in response to China’s ongoing import quota policy.Energy and Mineral Resources Ministry spokesperson Agung Pribadi said the decline was also sparked by the distribution issue in Australia and oversupply in Indonesia.“The delay in coal distribution in Australia affected the ICE Newcastle index. There is also an oversupply in in our country as a result of slowing demand from India and China,” he told press on Monday.This year, the government targets national coal production of 485 million tons, 25 percent of which is for the domestic market obligation, which is equal to 121.25 million tons.Data from the Energy and Mineral Resources Ministry up to September show coal...