Indonesia lifts all thermal coal HBA prices for H1 May

Indonesia has raised its thermal coal reference price (HBA) and all derivative indices for the first half of May, reflecting stronger global coal market fundamentals driven by geopolitical tensions and supply-side uncertainties, according to the latest release from the Ministry of Energy and Mineral Resources (ESDM).

The HBA for 6,322 kcal/kg GAR coal – the benchmark high-calorific value grade – was set at $106.57/tonne for May 1-15, up 3% from $103.43/t in the second half of April. Lower-calorific value grades followed the same upward trajectory, with EDSM placing HBA-I (5,300 kcal/kg GAR) higher by 2.4% at