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Indonesia July coal exports hit 4-year high

KullFrakt

20 Sept 2018 07:04

London

20 Sept 2018 07:04

(Montel) Indonesia’s coal exports rose 20% year on year in July to a four-year high on the back of strong Chinese demand and high export prices, Bank Indonesia data showed on Thursday.

The world’s leading thermal coal exporter shipped 1.24m tonnes/day, up by 4% on the month and the highest level since March 2014.

Exports in the first seven-months of the year were 14% higher than in January-July 2017, at 248m tonnes, the data showed.

Indonesia's energy ministry set its July coal reference price at a year-to-date high of USD 104.65/t, amid growing demand from China, with the price rising further to USD 107.83/t in August.

Chinese coal and lignite imports in July rose by nearly 50% year on year to a 4.5-year high of 936,000t/day, according to customs data.

Last month Indonesia revised up its coal production target for this year by 5% to 510m tonnes, in order to boost foreign currency earnings.

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