Indonesian thermal coal HBA prices set higher for H2 May

Source: Mysteel May 15, 2026 16:25

Indonesia's Harga Batubara Acuan (HBA) thermal coal reference prices and their derivatives for the second half of May have all been raised by the Ministry of Energy and Mineral Resources (ESDM) from levels set two weeks earlier, Mysteel Global has learned. This marks the third consecutive across-the-board increase since the second half of April and underscores the strong resilience of the coal-price uptick as tight supply-demand fundamentals persist, it notes.

Specifically, the ESDM set the HBA for 6,322 kcal/kg GAR coal (TM 12.26%, Sulfur 0.66%, Ash 7.94%) – a high-CV grade – at $116.32/tonne for this month's second two weeks, it announced on May 15, up 9.1% from the $116.32/t the ministry had decided for the grade for this

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