Lupa Kata Sandi? Klik di Sini

atau Masuk melalui

Belum Memiliki Akun Daftar di Sini


atau Daftar melalui

Sudah Memiliki Akun Masuk di Sini

Konfirmasi Email

Kami telah mengirimkan link aktivasi melalui email ke rudihamdani@gmail.com.

Klik link aktivasi dan dapatkan akses membaca 2 artikel gratis non Laput di koran dan Majalah Tempo

Jika Anda tidak menerima email,
Kirimkan Lagi Sekarang

Coal Prices Soar to 17-month High

Translator

Editor

3 August 2016 13:42 WIB

AP/David Goldman

TEMPO.CO, Jakarta - Coal price soared to its highest level in 17 months in the aftermath of China's decision to raise imports.

On Friday, July 29, the September contract price at the Rotterdam exchange stood at US$62.65 per ton, the highest since March 2015. With that, the year-to-date coal price increase has reached 45.02 percent.

Nevertheless, coal prices are still prone to correction as there are projections that the Federal Reserve will raise interest rates in quarter four.

Ibrahim, president director at PT Garuda Berjangka, said that coal prices began climbing in mid-July after the Chinese government laid off some 800,000 workers in the coal and steel industries. This reform by the world's largest coal producer has since strongly affected the commodity's price movements.

In June, China raised its imports by 21.75 million tons, the highest since December 2014. In sememster one this year, China's coal import volume reached 108 million tons or growing 8.2 percent year on year.

"Low coal prices urged Chine to change its strategy; switching from being a producer to importer," Ibrahim said on Monday, August 1, Bisnis Indonesia reported.

In addition to China, other producing countries like Australia, Indonesia, and Colombia has begun lowering their coal outputs.

To cope with weak prices, the Indonesian Energy and Mineral Resources Ministry plans to release a moratorium on coal mining. Ibrahim said this is a normal step to take considering the overly cheap prices of coal.

Coal prices are expected to decline soon to US$61 per ton. The negative expectation stems from the release of China's manufacturing index in July, which dropped to 49.9, below analysts' initial estimate of 50.1.

BISNIS




Govt Asks SOEs to Buy Newmont's Remaining 7% Stake  

24 Oktober 2018

Govt Asks SOEs to Buy Newmont's Remaining 7% Stake  

The government is asking SOEs to buy Newmont's remaining seven-
percent obligatory divestment.


One Freeport Worker Dies in Work-Related Accident

24 Oktober 2018

One Freeport Worker Dies in Work-Related Accident

A worker of mining giant PT Freeport Indonesia died in a work-related accident,
the company confirmed on Saturday.


One Freeport Worker Dies in Work-Related Accident  

24 Oktober 2018

One Freeport Worker Dies in Work-Related Accident  

A worker of mining giant PT Freeport Indonesia died in a work-related accident,
the company confirmed on Saturday.


Association Urges Govt to Improve Mining Infrastructure

19 Oktober 2018

Association Urges Govt to Improve Mining Infrastructure

The Indonesian Young Entrepreneurs Association's (HIPMI) requested the
government to improve Indonesia's mining infrastructure.


Edi Yosfi: The stronger man wins

19 Oktober 2018

Edi Yosfi: The stronger man wins

He admits being in a joint venture with Koba Tin, knowing that he stands to lose if

the Malaysian tin company's contract is not extended.


BHP Chief Comes out Swinging against Australian Iron Ore Inquiry

19 Oktober 2018

BHP Chief Comes out Swinging against Australian Iron Ore Inquiry

BHP Billiton CEO denied that top producers Rio Tinto and BHP had colluded to
depress prices and drive smaller producers out of the market


Freeport Allowed to Operate Until 2021

18 Oktober 2015

Freeport Allowed to Operate Until 2021

The mining giant PT Freeport Indonesia could continue its
operation until 30 December 2021.


Freeport Might Provide Govt with More Shares for Contract Renewal

18 Oktober 2015

Freeport Might Provide Govt with More Shares for Contract Renewal

Freeport must provide the government with more shares at
around 51 percent if Freeport wanted to extend its business
license, an analyst says.


Freeport Important for Papua, says Company VP

18 Oktober 2015

Freeport Important for Papua, says Company VP

The company`s total investment for the community development
program for the period of 1992-2014 had reached US$1.3
billion


Antam, Inalum Chip In to Build Smelter

16 Oktober 2015

Antam, Inalum Chip In to Build Smelter

Antam and Inalum will begin the smelter construction next
year in Mempawah, West Kalimantan.