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Coal Prices; Chamber of Commerce Cites Geopolitical Situation

Translator

Ricky Mohammad Nugraha

Editor

Laila Afifa

6 October 2021 23:11 WIB

TEMPO.CO, Jakarta - The Indonesian Chamber of Commerce and Industry (Kadin) chairperson Arsjad Rasjid in a webinar on Wednesday called for the business sector to remains vigilant amidst the rising price of commodities, including coal. 

He said that geopolitics was one of the factors behind the rising commodity prices. “I would like to mention that economic warfare exists between Indonesia, China, and Australia. The purchase of coal benefits Indonesia since China has stopped purchasing coal from Australia,” said Rasjid. 

He noted that businesses are aware that this situation is dynamic where China could buy coal again from Australia. He, therefore, called for the business sector to make use of the current circumstances. “We must remain wary about the situation, speaking in the context of geopolitics.”

Previously reported, the coal reference price (HBA) for October 2021 reached US$161.63/ton due to the rising demand in China. 

Read: Coal Price at Decade High as Demand Soars ahead of Winter

CAESAR AKBAR | ANTARA

Coal Chamber of Commerce and Industry (Kadin)Kadin


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