Indonesia lowers coal benchmark price for 7th month in March

JAKARTA, March 4 (Reuters) –

* The Indonesian government has set the coal benchmark price (HBA) for March at $90.57 per tonne, marking a seventh consecutive month of price fall, Muhamad Hendrasto, director of coal at the energy ministry, told reporters on Monday.

* February’s benchmark price, which the government uses to calculate a miner’s royalties, was $91.80 per tonne.

* Hendrasto said the decline in March benchmark was due to low demand in China.

* The HBA is a monthly average of the Argus-Indonesia Coal Index (ICI-1), the Platts Kalimantan 5,900 assessment, the Newcastle Export Index and the globalCOAL Newcastle index from the previous month.

(Reporting by Wilda Asmarini Writing by Gayatri Suroyo Editing by Subhranshu Sahu)

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