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. Total 2018 exports for the seven months to July were 14% ahead at 248 million mt compared to the same period in 2017. The boost saw the Indonesian energy ministry's August coal reference price reach a 2018 high of $107.83 per mt.