JAKARTADAILY.ID – The Reference Coal Price (HBA) in August 2022 increased by US$2.59 per ton from the previous month to $321.59 per ton. The condition of the European gas supply has a big influence in determining the HBA increase in August 2022.
"The price of liquefied natural gas in Europe continues to climb following the uncertainty of gas supply. Some European countries have even reactivated coal power plants in anticipation of an electricity crisis," said Head of the Communications, Public Information and Cooperation Bureau (KLIK) of the Ministry of Energy and Mineral Resources, Agung Pribadi on Tuesday, August 2, 2022.
Another factor is the surge in coal demand from China, India, and South Korea.
"This is because Russia offers a discount on coal prices," he said.
He further explained that the increase recorded a positive trend in coal prices throughout 2022. In January 2022, the HBA was set at $158.50/ton, rising to $188.38/ton in February.
Furthermore, March reached $203.69/ton, April was at $288.40/ton, May was at $275.64/ton, and June was at USD323.91/Ton.
"Last month (July) it had dropped to $319/ton. In August 2022, the HBA rose to $321.59/ton," said Agung.