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Indonesia Cuts Thermal Coal to the Lowest Price in 11 Months

Dec. 7 (Bloomberg) -- Indonesia, the world’s largest exporter of power-station coal, cut its benchmark for December by 3.4 percent to the lowest price in 11 months, according to the Energy and Mineral Resources Ministry.

The cost of coal with a gross energy value of 6,322 kilocalories per kilogram was set at $112.67 a metric ton on a free-on-board basis, compared with $116.65 in November, the Directorate General of Coal and Minerals at the ministry said in a statement on its website. The price was $103.41 in December 2010, according to Bloomberg data.

Below is a list of price references and markers used to calculate prices for coal of similar quality from eight leading grades in Indonesia, Southeast Asia’s biggest economy, as compiled by the energy ministry. Grades are in kilocalories a kilogram, while prices are in U.S. dollars a ton.

===============================================================
                      Dec.     Nov.     Oct.    Sept.     Aug.
===============================================================
Price Reference     112.67   116.65   119.24   116.26   117.21
Month-on-Month (%)   -3.41    -2.17     2.56    -0.81    -0.87
===============================================================

Price Markers
===============================================================
Coal Brands        Quality                  Price
                               Dec.     Nov.     Oct.    Sept.
===============================================================
Gunung Bayan 1      7,000    121.24   125.55   128.36   125.13
Prima Coal          6,700    119.02   123.05   125.68   122.65
Pinang 6150         6,200    107.29   110.92   113.28   110.56
Indominco IM_East   5,700     91.86    95.07    97.17    94.76
Melawan Coal        5,400     86.67    89.53    91.40    89.25
Envirocoal          5,000     79.99    82.53    84.17    82.28
Jorong J-1          4,400     64.50    66.55    67.88    66.35
Ecocoal             4,200     58.49    60.31    61.50    60.13
===============================================================

Note: Percentage changes are calculated by Bloomberg News. The price reference is an average of the Indonesia Coal Index, Platts-1, Newcastle Export Index and the globalCOAL NEWC Index from the previous month. The average of the price reference for the last three months is used to set prices for a one-year contract for the following year. For sales in barges, the reference price excludes the cost of barging and transshipment into the vessel.

To contact the reporter on this story: Yoga Rusmana in Jakarta at yrusmana@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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