Indonesia’s Reference Coal Price Hits All-Time Low in May 2015
On Monday (11/05), it was announced that the reference coal price of Indonesia declined 5.2 percent (month-on-month) to an all-time low of USD $61.08 per metric ton in May. This benchmark price, which is set by the government each month based on the average of four coal indexes (Indonesia Coal Index, Platts Index, New Castle Export Index and New Castle Global Coal Index), continued to plummet due to the coal oversupply in combination with weak global coal demand (particularly falling demand from China).