Jakarta, CNBC Indonesia – Coal prices shot up at the end of last week’s trading. Thus, coal recorded price increases for three consecutive weeks.
Last weekend, the price of coal on the ICE Newcastle (Australia) market closed at US$ 214.95/ton. Up 4.29% from the previous day’s closing position.
On a weekly basis, coal prices rose 7.34% point-to-point. The price of the black stone rose for three consecutive weeks. In three weeks, the price skyrocketed 41.65%. Wow…
The supply is still limited and Indonesia makes world coal prices fly. Although the government has allowed a number of ships to sail to export coal, it is still very limited.
Refinitiv noted that this month’s coal exports from Mother Earth to January 21 were only 633,606 tons. Still far from the previous month which reached 1.27 million tons.
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Sumber: Refinitiv- – |
Indonesia does play an important role in shaping coal prices. Because, Indonesia is the world’s largest coal exporter. When there is no supply from Indonesia, the world coal market will feel empty so prices will increase.
So when the supply of Indonesian coal gradually began to enter, the price began to ‘tame’. That’s how big Indonesia’s role in the coal market is. Through coal, Indonesia can checkmate the world.
CNBC INDONESIA RESEARCH TEAM
(aji / aji)
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