Coal Reference Price Rises in Early July 2026

The Ministry of Energy and Mineral Resources (ESDM) has raised the Coal Reference Price (HBA) for all calorific types in the first period of July 2026. The increase was established through Minister of Energy and Mineral Resources Decree Number 274.K/MB.01/MEM.B/2026 concerning the Metal Mineral Reference Price and Coal Reference Price for the First Period of July 2026. The coal reference price with a calorific value of 6,322 kcal/kg GAR rose to US$126.58 per tonne, up from US$123.91 per tonne in the second period of June 2026. Meanwhile, the HBA for coal with a calorific value of 5,300 kcal/kg GAR increased to US$90.94 per tonne from US$88.40 per tonne. The HBA for coal with a calorific value of 4,100 kcal/kg GAR rose to US$62.59 per tonne, compared to US$60.19 per tonne in the previous period. The largest increase occurred in the HBA for coal with a calorific value of 3,400 kcal/kg GAR, with its price jumping to US$41.91 per tonne from US$41.19 per tonne in the second period of June 2026. In accordance with Minister of Energy and Mineral Resources Decree Number 80.K/MB.01/MEM.B/2025, the government sets the HBA and HMA twice a month, on the 1st and the 15th. Details of the HBA for the first period of July 2026: - Calorific value 6,322 kcal/kg GAR: US$126.58 per tonne, up from US$123.91. - Calorific value 5,300 kcal/kg GAR: US$90.94 per tonne, up from US$88.40. - Calorific value 4,100 kcal/kg GAR: US$62.59 per tonne, up from US$60.19. - Calorific value 3,400 kcal/kg GAR: US$41.91 per tonne, up from US$41.19. In addition to regulating the monthly coal reference price, the ministerial decree also contains details of the mineral reference price (HMA). The HMA for the first period of July moved variedly. The details are as follows: - Nickel price fell to US$17,593.33 per dmt from US$18,642.33 per dmt. - Cobalt price edged up to US$55,854.00 per dmt from US$55,852.33 per dmt. - Lead price fell to US$1,949.87 per dmt from US$2,001.90 per dmt. - Zinc price weakened to US$3,534.60 per dmt from US$3,550.10 per dmt. - Copper price fell to US$13,541.80 per dmt from US$13,648.27 per dmt, while aluminium weakened to US$3,431.57 per dmt from US$3,729.10 per dmt.