Jakarta, CNBC Indonesia – Extraordinary. That may be able to describe the movement of coal prices.
Yesterday, the price of coal in the ICE Newcastle (Australia) market was at US$ 128.4/ton. Soared 1.7% and touched the highest point since January 19, 2011 or more than 10 years ago.
Even better, the price of the black stone continues to rise as if tirelessly. In the past week, the price of this commodity rose 4.67% and during the past month skyrocketed 17.58%.
Apart from China, the demand for coal in Japan and South Korea has also increased. Approaching summer, energy demand increases due to the use of air conditioners. Most of the electrical energy in these countries uses coal plants.
In May 2021, Refinitiv recorded Japan’s coal imports of 12.88 million tons. This month, coal imports by the Land of the Rising Sun have reached 13.72 million tons, already higher than the previous month.
Meanwhile, South Korea’s coal imports in May 2021 were 9.33 million tons. This month, imports were recorded at 9.18 million tons.
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Japan and South Korea Coal Imports (Source: Refinitiv)- – |
The trend of rising coal prices is a blessing for issuers on the Indonesia Stock Exchange. The stock prices of a number of listed coal producers jumped sharply.
In the last month, stock prices PT Adaro Energy Tbk (ADRO) up 5.56%. During the same period, the stock price Indo Tambangraya Megah Tbk (ITMG) skyrocketed 10.4% and PT Indika Energy Tbk (INDY) up 1.14%.
CNBC INDONESIA RESEARCH TEAM
(aji / aji)
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