JAKARTA (Yosefardi) – Shares of coal producers in the region were mostly under pressure Wednesday (March 12) from falling thermal coal prices.
China Shenhua, one of the world’s largest coal producers, dropped further by 2.32% in Hong Kong, while China Coal down 1%.
In Sydney, Whitehaven Coal lost 3.14%, while BHP Billiton and Rio Tinto rebounded slightly after days of corrections.
In Jakarta, Bukit Asam dropped 2.62%, while Indo Tambangraya down 2.3%. Indika, Adaro Energy, Berau Coal, Bumi Resources, and Borneo Lumbung were also in red.
Indonesia’s benchmark price of coal (6200 Kcal/Kg) fell sharply by 14.5% to US$77 per ton in March 2014.