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. 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. Source: Montel
Strong demand from China and high export prices boosted Indonesia's thermal coal shipments to 1.24 million metric tonnes (mt) per day in July, a 4% rise compared to the previous month and 20% up from the year before, making it the highest levels since March 2014, according to Bank Indonesia data. The Indonesian government has been trying to boost domestic energy production by encouraging more use of renewable sources such as solar power and wind power. The boost saw the Indonesian energy ministry's August coal reference price reach a 2018 high of $107.83 per mt.