JAKARTA, Jan 4 — Indonesia has warned that its coal supply situation remains critical, ahead of tomorrow’s review of its export ban, unnerving global markets for the fuel used to generate most of the electricity that drives Asia’s biggest economies.
China’s benchmark thermal coal futures rose by as much as 7.8 per cent in the first day of trading since the policy was announced and closed at 713.80 yuan a tonne, up 6.4 per cent. But, it warned that “this critical period is not yet over”, adding that it continued to coordinate with the government and other coal suppliers.
Under the DMO, miners are required to sell 25 per cent of their output to local power plants at a maximum price of US$70 per tonne. Indonesian miners met with the trade ministry for discussions again on Tuesday, said an industry group source. “The government is trying to make the exports work ... the main priority is availability of coal supply to PLN,” the source said.
“We are expecting 40 million tonnes of Indonesian exports in January and total domestic demand is in the region of 12 million tonnes; addressing any shortfall would require only a fraction of total capacity,” he added.
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