Price Of Coals Rises Driven By China’s Soaring Demand

Price Of Coals Rises Driven By China’s Soaring Demand

Benchmark Coal Price (BCP) in March 2018 rose 1.16 percent to USD101.86 per ton compared to February’s BCP which reached USD100.69 per ton, according to data from the Ministry of Energy and Mineral Resources compiled by Antara in Jakarta, Thursday (3/8/2018).

According to the data analysis, the rise in coal price is among others driven by the growing demand from Asian countries.

The Benchmark Coal Price and the majority of the Benchmark Minerals Price (BMP) show an increase in March 2018. Decision of the Minister of Energy and Mineral Resources No. 1320 K/32/MEM/2018 set at the beginning of March 2018 on amount of BCP and BMP recorded positive trends in coal and almost all metallic minerals.

“The demand from China, India and Vietnam continues to increase. It is one of the reasons. Increased activities in coal-fired power generation like in China become one of the reasons for rising consumption,” said Head of the Communications and Public Information Service Communication Bureau, Agung Pribadi.

He revealed the rise of BCP is also due to rainfall factor which is still high. “[Coal] production is also not optimal due to unfavorable weather, high rainfall in various regions. Just a little hindrance will affect production,” said Agung.

BCP is the price obtained from the average of Indonesia Coal Index (ICI), Newcastle Export Index (NEX), Globalcoal Newcastle Index (GCNC), and Platss 5900 earlier.

The quality is equivalent to the calorie of 6,322 kcal per kg GAR (Gross as received), Total Moisture of eight percent, Total Sulfur of 0.8 percent and Ash 15 percent. Read More

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