Indonesia sets early-May coal benchmark prices higher across all grades

By Romel S. Gurky

Indonesia’s Ministry of Energy and Mineral Resources has set its reference coal prices (HBA) for the first half of May, with all benchmark grades rising from the late-April period, according to a ministerial decree.

The prices were stipulated in Ministerial Decree No. 179.K/MB.01/MEM.B/2026 on reference metal mineral and coal prices for the first period of May 2026, a document seen by Petromindo.com on Saturday showed.

The benchmark HBA for coal with a calorific value of 6,322 kcal/kg GAR was set at $106.57 per tonne, up from $103.43 per tonne in the second half of April.

HBA I, with a calorific value of 5,300 kcal/kg GAR, was set at $79.56 per tonne, compared with $77.71 per tonne previously.

Read also : Energy ministry sets late-April coal benchmark prices higher across all grades

HBA II coal, at 4,100 kcal/kg GAR, rose to $55.66 per tonne from $52.84 per tonne in the prior period.

Meanwhile, HBA III, the lowest calorific grade at 3,400 kcal/kg GAR, increased to $38.76 per tonne, up from $38.30 per tonne.

Indonesia revises its coal benchmark prices twice a month. The HBA is widely used as a reference for coal sales transactions and as the basis for calculating state royalties.

The latest increases extend gains seen in the second half of April, pointing to continued strength in benchmark coal prices.

Editing by Reiner Simanjuntak