Coal Mining Industry Indonesia Update: HBA Price Soaring

Starting from June 2016, Indonesia's HBA price has been rising rapidly, currently touching the highest level since May 2013. This remarkable growth is primarily caused by two factors: (1) the above-mentioned new policies of China aimed at capping domestic coal mining output (to comply with the Paris Climate Agreement), and (2) supply cuts in coal producing nations (the prolonged decline in coal prices between 2011 and mid-2016 caused financial troubles for numerous coal miners across the globe and therefore they had to reduce - or completely shut down - operations in 2015 and 2016).

Indonesian Government's Benchmark Thermal Coal Price (HBA):

Month	2012	2013	2014	2015	2016
January	109.29	87.55	81.90	63.84	53.20
February	111.58	88.35	80.44	62.92	50.92
March	112.87	90.09	77.01	67.76	51.62
April	105.61	88.56	74.81	64.48	52.32
May	102.12	85.33	73.60	61.08	51.20
June	96.65	84.87	73.64	59.59	51.87
July	87.56	81.69	72.45	59.16	53.00
August	84.65	76.70	70.29	59.14	58.37
September	86.21	76.89	69.69	58.21	63.93
October	86.04	76.61	67.26	57.39	69.07
November	81.44	78.13	65.70	54.43	84.89
December	81.75	80.31	69.23	53.51

^{in USD/ton
Source: Ministry of Energy and Mineral Resources}

Indonesian Production, Export, Consumption & Price of Coal:

	2007	2008	2009	2010	2011	2012	2013	2014	2015
Production (in million tons)	217	240	254	275	353	412	474	458	461
Export (in million tons)	163	191	198	210	287	345	402	382	366
Domestic (in million tons)	61	49	56	65	66	67	72	76	87
Price (HBA) (in USD/ton)	n.a	n.a	70.7	91.7	118.4	95.5	82.9	72.6	60.1

^{Sources: Indonesian Coal Mining Association (APBI) & Ministry of Energy and Mineral Resources}

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