Official: Ministry of Energy and Mineral Resources Sets September 2026 Reference Coal Prices, Most Categories Decline

The Ministry of Energy and Mineral Resources (ESDM) has established the Reference Coal Price (HBA) for the first period of September 2026. Most coal categories experienced a decrease in price during this period compared to the second period of August 2026.

Based on the Decree of the Minister of ESDM No.348.K/MB.01/MEM.B/2026 regarding the Reference Metal Mineral Price and Reference Coal Price for the first period of September 2026, the HBA for the high-caloric coal category (6,322 GAR) increased to US$ 126.87 per tonne from the previous US$ 124.06 per tonne in the second period of August 2026.

Meanwhile, three other coal categories experienced a decline in price.

Established by Minister of ESDM Bahlil Lahadalia on 31 August 2026, this Ministerial Decree is effective as of 1 September 2026.

“The HBA for the first period of September 2026, as referred to in the SECOND Dictum, shall be used as the basis for calculating the Coal Benchmark Price, hereinafter referred to as HPB, for the first period of September 2026,” stated the fourth clause of the Ministerial Decree, as reported on Wednesday (2/9/2026).

The following is the list of the HBA for the first period of September 2026:

First, the HBA with a calorific value equivalent to 6,322 kcal/kg GAR, Total Moisture 12.26%, Total Sulphur 0.66%, and Ash 7.94% for the first period of September 2026 is set at US$ 126.87 per tonne, up from US$ 124.06 per tonne in the second period of August 2026.

Second, for HBA I with a calorific value equivalent to 5,300 kcal/kg GAR, total moisture 21.32%, sulphur 0.75%, and ash 6.04% for the first period of September 2026, the price is set at US$ 95.05 per tonne, down from US$ 96.92 per tonne in the second period of August 2026.

Third, for HBA II with a calorific value equivalent to 4,100 kcal/kg GAR, total moisture 35.73%, sulphur 0.23%, and ash 3.9% for the first period of September 2026, the price is set at US$ 65.06 per tonne, down from US$ 65.81 per tonne in the second period of August 2026.

Fourth, for HBA III with a calorific value equivalent to 3,400 kcal/kg GAR, total moisture 44.30%, sulphur 0.24%, and ash 3.88% for the first period of September 2026, the price is set at US$ 44.15 per tonne, down from the US$ 45.35 per tonne set in the second period of August.