JAKARTA (TheInsiderStories)—Indonesia’s Ministry of Energy and Mineral Resources (MEMR) the coal reference price at US$104.65 per ton for July 2018.
MEMR has stipulated the Decree of the Minister of Energy and Mineral Resources No. 1892K/30/MEM/2018 on the Reference Price of Metals Minerals and Coal for July 2018. The decree sets the reference coal price and the reference price for 20 metallic minerals (mineral reference price).
“The decree set coal and mineral reference price for July is out, and this reference prices will be used as the basis for calculating coal and mineral reference prices this month,” said Head of Communications, Public Information Services, and Cooperation of MEMR Agung Pribadi in Wednesday (4/7), as quoted in the MEMR official website.
Coal price reference for July 2018 is set at US$104.65 per ton, increased US$8.04 from US$96.61 per ton in the previous month due to improving global energy prices. In addition, increasing China’s coal price, improving China and Northern Europe’s coal demand, and oil price hikes also contributed to the rise of coal reference price.
The coal reference price obtained from the average Indonesia Coal Index (ICI), the Newcastle Export Index (NEX), the Globalcoal Newcastle Index (GCNC), and the previous 5900 Platss. The quality is equal to 6322 kcal calories per kg of GAR, Total Moisture 8%, Total Sulfur 0.8%, and Ash 15%.
While mineral reference prices of nickel commodities set at US$15,067.86 per dry metric ton (dmt), up from US$14,102.75 per dmt in June 2018. For cobalt commodities set US$86,321.43 per dmt in July 2018, down from US$90,062.50 per dmt in June 2018. Lead price rose slightly to USD 2,372.19 per dmt in July 2018 from US$2,452.33 per dmt in the previous month.
The zinc price rose to US$3,128.57 per dmt in July 2018 from US$3,098.30 per dmt in June 2018, while aluminum price fell to US$2,275.45 per dmt in July from US$2,301.43 per dmt in June. Copper price set at US$6,996,69 per dmt in July, up from US$6,837.10 per dmt in June 2018
In addition to the above mineral commodities, some mineral commodities have increased prices and others have decreased, the list is as follows.
- Gold as a participating mineral: US$1,295.15 per ounce, down from US$1,312.51 per dmt from June 2018.
- Silver as a follow-up mineral: US$16.62 per ounce, up from US$16.53 per ounce from June 2018.
- Tb 300 lead ingot: according to price of tin ingot published by ICDX on sales day.
- Tb 200 lead ingot: according to ICDX published lead ingot price on sales day.
- Ingot tin Pb 100: according to price of lead ingot published ICDX on sale day.
- Ingot lead Pb 050: according to price of lead ingot published ICDX on sale day.
- 4NINE tin ingot: according to ICDX published lead ingot price on the day of sale.
- Gold Metals: in accordance with the gold price published by the London Bullion Market Association (LBMA) on the day of sale.
- Silver Metals: in accordance with the price of the silver metal published by the London Bullion Market Association (LBMA) on the day of sale.
- Manganese: US$5.82 per dmt, down from US$6.89 per dmt from June 2018.
- Laterite / Hematite / Magnetite Iron Ore: US$0.76 per dmt, down from US$0.78 per dmt from June 2018.
- Chrom Ore: US$3.85 per dmt, down from US$4.08 per dmt from June 2018.
- Ilmenite Concentrate: US$3.76 per dmt, down from USD 4.16 per dmt from June 2018.
- Titanium Concentrate: US$10.30 per dmt, down from US$10.61 per dmt from June 2018.
Mineral reference prices is one of the variables in determining the mineral benchmark price (HPM) of metal based on the formula set forth in the Decree of ESDM No. 2946 K/30/MEM/2017 concerning Formula For Determination of Metal Mineral Standard Price. This HMA becomes one of the variables for determining HPM. Other metal HPM determination variables are metal mineral values, constants, corrective factor, treatment cost, refining charges, and payable metal.
The amount of mineral reference price is set by the ESDM Minister each month and refers to the publication of the price of metallic minerals on the world index, among others by London Metal Exchange, London Bullion Market Association, Asian Metal and Indonesia Commodity and Derivatives Exchange (ICDX).