August 8, 2026 | 08:10 pm
TEMPO.CO, Jakarta - The fluctuating coal prices in early August 2026 represent a short-term market dynamic, according to the Indonesian Coal Mining Association (APBI), with current prices not yet indicative of a long-term slowdown.
APBI Executive Director Gita Mahyarani said the decline in coal reference price (HBA) for the first period of August 2026 must be viewed through the context of global market conditions. According to her, international coal prices are still moving according to the balance between demand and supply.
"The decline in HBA remains within the context of market fluctuations, so there's no direct conclusion that it's a long-term weakening trend," Gita said on Saturday, August 8, 2026.
Several factors make up coal price movements, she said, including demand from major consumer countries (such as China and India), global supply conditions, and each country's energy policies. Therefore, the price decline within a single period is more likely a reflection of market corrections to current supply-demand conditions.
Meanwhile, the differences in price movements based on coal type indicate that the market is not moving in uniform. Each calorie category has different consumer characteristics and demand levels. "The demand for coal in each segment can be influenced by power generation needs, user preferences, logistical factors, and supply availability," she said.
Under certain conditions, low-calorie coal prices may even surge when demand grows or market supply is limited. Therefore, according to Gita, producers cannot rely solely on price indicators to determine business strategies. Businesses must consider the market characteristics of each product, including production costs and mining economics.
Previously, the Ministry of Energy and Mineral Resources set the coal reference price (HBA) for the first period of August 2026. The price of high-calorie coal (6,322 kcal/kg GAR) slid, while three categories of lower-calorie coal saw hikes compared to the second period of July 2026.
Director General of Minerals and Coal, Tri Winarno, stated that the decline in the high-calorie HBA for the first period of August 2026 was influenced by the decline in actual coal sales prices. "This is reflected in sales transactions for the shipping or sales period from June 8 to July 7, 2026, which form the basis for calculating royalty payments through the ePNBP Minerba application," he said in a written statement on Friday, August 7, 2026.
The reference price for coal with a calorific value of 6,322 kcal/kg GAR was set at US$124.44 per ton, down by US$7.41 per ton, or approximately 5.6 percent, compared to the HBA for the second period of July 2026 at US$131.85 per ton.
Meanwhile, HBA for coal with a calorific value of 5,300 kcal/kg GAR was set at US$93.27 per ton. This figure increased by US$3.37 per ton, or approximately 3.75 percent, compared to the US$89.90 per ton last period.
Growth was also recorded in coal with a calorific value of 4,100 kcal/kg GAR. The price was set at US$65.48 per ton, an increase of US$2.23 per ton, or approximately 3.5 percent, from the previous period's level of US$63.25 per ton.
HBA III for coal with a calorific value of 3,400 kcal/kg GAR was set at US$45.27 per ton. This price increased slightly by US$0.19 per ton, or around 0.4 percent, compared to the HBA for the second period of July 2026, which was US$45.08 per ton.
Read: Detail of Coal Prices for Early August 2026 in Indonesia
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Detail of Coal Prices for Early August 2026 in Indonesia
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