Indonesia’s Coal Benchmark Price Rises Across the Board in the Second Half of December 2025
Wed 17 Dec 2025, 05:58 AM
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Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia has set the Coal Benchmark Price (HBA) for the second period of December 2025.
All four HBA categories for the second period of December 2025 were set higher than in the first period of December 2025.
This decision is stipulated in Minister of ESDM Decree No. 420.K/MB.01/MEM.B/2025 on Reference Prices for Metallic Minerals and the Coal Benchmark Price for the Second Period of December 2025.
Signed by Minister Bahlil Lahadalia on December 15, 2025, the decision also takes effect on December 15, 2025.
Below are the HBA figures for the second period of December 2025:
1. Coal (6,322 GAR): The coal price is set at USD 100.81 per ton, up from USD 98.26 per ton in the first period of December 2025. This HBA corresponds to a calorific value of 6,322 kcal/kg GAR, Total Moisture 12.26%, Total Sulphur 0.66%, and Ash 7.94%.
2. Coal I (5,300 GAR): The coal price is set at USD 69.93 per ton, up from USD 67.99 per ton in the first period of December 2025. HBA I corresponds to a calorific value of 5,300 kcal/kg GAR, Total Moisture 21.32%, Total Sulphur 0.75%, and Ash 6.04%.
3. Coal II (4,100 GAR): The coal price is set at USD 45.44 per ton, up from USD 44.37 per ton in the first period of December 2025. HBA II corresponds to a calorific value of 4,100 kcal/kg GAR, Total Moisture 35.73%, Total Sulphur 0.23%, and Ash 3.90%.
4. Coal III (3,400 GAR): The coal price is set at USD 35.02 per ton, up from USD 34.15 per ton in the first period of December 2025. HBA III corresponds to a calorific value of 3,400 kcal/kg GAR, Total Moisture 44.30%, Total Sulphur 0.24%, and Ash 3.88%.
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