Indonesian Ministry of Energy and Mineral Resources set its thermal coal reference price index (also known as the HBA index) at $92.03/t for September, up $8.06/t or 9.6% y-o-y from August and up $28.1/t or 44% y-o-y.
The HBA index is based 25% on the Platts Kalimantan 5,900 kcal/kg GAR assessment; 25% on the Argus-Indonesia Coal Index 1 (6,500 kcal/kg GAR); 25% on the Newcastle Export Index — formerly the Barlow-Jonker index (6,322 kcal/kg GAR) of Energy Publishing — and 25% on the globalCOAL Newcastle (6,000 kcal/kg NAR) index.
The HBA price for thermal coal is the basis for determining the prices of 75 Indonesian coal products and calculating the royalty producers have to pay for each metric ton of coal they sell.
It is based on 6,322 kcal/kg GAR coal, with 8% total moisture content, 15% ash as received and 0.8% sulfur as received.
Source: Ministry of Energy and Mineral Resources