Indonesia to enforce HBA-based pricing for coal exports starting Mar 1

Indonesia will require all thermal coal exporters to use the domestic benchmark pricing index, known as Harga Batubara Acuan (HBA), as the baseline price for transactions, effective from March 1, 2025, the Ministry of Energy and Mineral Resources (ESDM) confirmed during a Zoom meeting on February 26.

The move follows remarks by ESDM minister Bahlil Lahadalia on February 3, signalling the government's intention to adopt an HBA-based pricing policy aimed at strengthening Indonesia's control over coal pricing in the global market, as Mysteel Global had reported. The announcement has sparked concerns, particularly regarding the timing of the