Jakarta, CNBC Indonesia – The price of black gold commodity, namely coal, rose 17% throughout November 2020. Positive sentiment surrounds coal companies in Indonesia.
Not to mention, there is news that China is committed to buying 200 million tons of Indonesian coal next year. This will make the Indonesian coal industry more shiny, the owners of coal companies will be richer.
Today, Monday (30/11/2020), the price of coal company shares rose high. Until the close of the first session of stock trading on the Indonesia Stock Exchange (IHSG), the share price of PT Harum Energy Tbk (HRUM) a high increase of 19.65% (Rp 450) to Rp 2,740 / unit.
Then the shares of PT Delta Dunia Makmur Tbk (DOID) increased 18.64% (Rp 66) to Rp 420 / unit. Then the shares of PT Indo Tambangraya Megah Tbk (ITMG) increased by 13.5% (IDR 1,600) to IDR 13,450 / unit.
Followed by shares of PT Indika Energy Tbk (INDY) which rose 12.19% (Rp 195) to Rp 1,795 / unit. Not to mention the shares of PT Bukit Asam Tbk (PTBA) which increased 4.15% (Rp. 100) to Rp. 2,510 / unit.
Finally, PT Adaro Energy Tbk (ADRO) which increased 3.24% (Rp 45) to Rp 1,435 / unit.
For the first time since the end of March, the price of the Newcastle thermal coal futures contract finally reached the psychological level of US $ 70 / ton last Thursday (26/11/2020). However, on the last trading day of last week, the contract price of coal reversed direction.
Friday (27/11/2020), the coal contract price which was actively traded fell 0.64% from the position of the previous day’s trade closing. The price, which has been rallying fast, is prone to correction because of the trader want to realize the benefits (profit taking).
The price of coal has started to creep up since the second week of October. In fact, throughout November the contract price for Newcastle coal has shot up 17.38%.
(wed/wed)
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