Indonesia's Reference Coal Price (HBA) at the Start of April 2026, Average Still Rising!

The Ministry of Energy and Mineral Resources (ESDM) has officially set the Reference Coal Price (HBA) for coal sales in the first period of April 2026. This is outlined in Ministerial Decree (Kepmen) ESDM Number 135 of 2026 regarding Reference Metal Mineral Prices and Reference Coal Prices for the First Period of April 2026.

The regulation separates HBA into at least four categories. Compared to the HBA for the second period of March 2026, coal categories I, II, and III have seen price increases, while the highest-calorie coal has experienced a price decrease in this first period of April 2026.

“This dynamic reflects the evolving global market movements, in line with the continued primary focus on demand for energy and strategic minerals,” stated the Directorate General of Minerals and Coal of the Ministry of ESDM in an Instagram post @ditjenminerba, quoted on Wednesday (1/4/2026).

Here is the list of HBA for the first period of April 2026:

First, HBA equivalent to a calorific value of 6,322 kcal/kg GAR, Total Moisture 12.26%, Total Sulphur 0.66%, and Ash 7.94 is set at US$99.87 per tonne. This figure represents a decrease compared to the HBA for the second period of March 2026, which was US$103.01 per tonne.

Second, for HBA I with an equivalent calorific value of 5,300 kcal/kg GAR, total moisture 21.32%, sulphur 0.75%, and ash 6.04%, the first period of April 2026 is set at US$72.28 per tonne. This is an increase compared to the price for the second period of March 2026, which was US$71.55 per tonne.

Third, for HBA II with an equivalent calorific value of 4,100 kcal/kg GAR, total moisture 35.73%, sulphur 0.23%, and ash 3.9%, the first period of April 2026 is US$49.99 per tonne. This is an increase compared to the HBA for the second period of March 2026, which was at US$48.32 per tonne.

Fourth, for HBA III with an equivalent calorific value of 3,400 kcal/kg GAR, total moisture 44.30%, sulphur 0.24%, and ash 3.88%, the first period of April 2026 is set at US$35.23 per tonne. This is an increase compared to the second period of March 2026, which was at US$34.25 per tonne.