hba aug 2013
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Indones ian Coal Pr i ce Reference | HBA
August 2013
Source : ESDM
Indonesia Reference Price (HBA)
Dito Yudhanto Sulong
Indonesian Coal Price Reference August 2013
Harga Batubara Acuan (HBA) is Indonesian coal price reference with equality
calorific value of 6,322 kcal/kg GAR, moisture content of 8%, sulfur content of
0.8% and ash content of 15% which is an average of 4 coal price index: Indonesia
Coal Index/Argus Coalindo, Platts, New Castle Export Index, and the New Castle
Global Coal Index.
• Indonesian Coal Index/Argus Coalindo
Coalindo assessments are derived from the inputs supplied by its panelists
on a weekly basis. Coalindo applies reliability tests on the submissions, after
which the top and bottom 10% of submissions are eliminated. The
remaining submissions are then averaged for each grade assessed. These
final assessments are submitted to Argus as the Coalindo element of the
Argus/Coalindo Indonesian Coal Index.
• New Castle Export Index
The Newcastle Export Index (previously known as the Barlow Jonker Index
BJI), was developed as an indicator of the spot price of thermal coal in the
Asian market. It reflects the price at which a willing seller and a willing
buyer are prepared to do business in the spot market for a prompt cargo of
thermal coal loaded FOB vessel Port of Newcastle, NSW Australia. Newcastle
is the world's largest export coal loading facility and Newcastle coal is a key
reference coal in the Asian thermal coal market.
• Platts
The price assessments are formulated based on systematic Market on Close
practices and reflect market values at the end of the trading day, defined by
Platts as 4 pm Eastern prevailing time for North American coal markets.
Transactions, bid and offers, and other market information are compared
and analyzed. While all available information on trading activity that occurs
throughout the day is considered, bids and offers made and transactions
done are analyzed in relation to time of day to formulate values at the end of
Indonesia Reference Price (HBA)
Dito Yudhanto Sulong
the trading day.
• Global Coal New Castle Index
The globalCOAL Newcastle Index values are calculated and supplied daily by
globalCOAL. The Indices are a representation of week to date or month to
date prices, calculated from the globalCOAL Newcastle Index traded on
globalCoal.
Figure 1: Indonesian Coal Price References (HBA) in (USD / MT)
Based on the HBA, then determined Harga Patokan Batubara (HPB). HPB is an
achievement that can benefit both parties. Both producers and consumers have
had a fairly clear that aids in better pricing for the spot price or the contract. As
for the government is to price provisions for fixation of state revenues
increasingly clear and transparent.
There are 8 HPB price marker, representing the coal quality ranging from 4200
to 7000 kcal/kg. Reasons for the selection marker is to reflect the range of each
quality, the most widely traded/dominant in the market, and is commonly
known in the market.
Aug ’13, 76.70
Indonesia Reference Price (HBA)
Dito Yudhanto Sulong
Table 1: The 8 HPB Marker
Figure 2: Indonesian Coal Distributions Based on Calorific Value
Furthermore, what about coal that having calorific value outside of the 8
categories? it is determined with interpolation using the HPB marker with using
a specific formula.
Determination of HBA and HPB done each month and announced through a letter
to the relevant institutions and is posted well in www.djmbp.esdm.go.id. The
Ministry of Energy and Mineral Resources has published the HBA for August,
USD 76.7 / ton.
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