Indonesia cuts most HBA coal grades for H2 Sept, high-CV benchmark slips 2.6%

Indonesia's Ministry of Energy and Mineral Resources (ESDM) has cut the Harga Batubara Acuan (HBA) thermal coal reference prices for most grades for the second half of September, reversing the lift it gave the high-CV grade two weeks earlier, according to the ministry's release published on September 15.

The ESDM fixed the HBA for 6,322 kcal/kg GAR coal – the benchmark high-CV grade – at $123.54/tonne for H2 September, down $3.33/t or 2.6% from $126.87/t in H1 September. The drop more than cancels the 2.3% increase of ESDM's previous release and also leaves the grade 0.4% below