Coal Reference Price Rises in Early July 2026
The Ministry of Energy and Mineral Resources (ESDM) has raised the Reference Coal Price (HBA) for all calorie types for the first period of July 2026. This increase was established through the Decree of the Minister of ESDM Number 274.K/MB.01/MEM.B/2026 regarding the Reference Metal Mineral Price and the Reference Coal Price for the first period of July 2026.
The reference coal price with a calorific value of 6,322 kcal/kg GAR rose to US$126.58 per tonne, up from the previous 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.
Furthermore, 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 most significant increase occurred in the HBA for coal with a calorific value of 3,400 kcal/kg GAR, which jumped to US$41.91 per tonne from US$41.19 per tonne in the second period of June 2026.
In accordance with the Decree of the Minister of ESDM Number 80.K/MB.01/MEM.B/2025, the government establishes the HBA and HMA twice every month, specifically on the 1st and 15th of each month.
Details of the HBA for the first period of July 2026:
6,322 kcal/kg GAR: US$126.58 per tonne, up from US$123.91.
5,300 kcal/kg GAR: US$90.94 per tonne, up from US$88.40.
4,100 kcal/kg GAR: US$62.59 per tonne, up from US$60.19.
3,400 kcal/kg GAR: US$41.91 per tonne, up from US$41.19.
In addition to regulating monthly coal prices, the ministerial decree also contains details regarding the Reference Metal Mineral Price (HMA). The HMA for the first period of July showed mixed movements.
The details are as follows:
Nickel price fell to US$17,593.33 per dmt from US$18,642.33 per dmt.
Cobalt price rose slightly 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.