Coal prices have once again recorded an increase. Despite already surging by double digits in the past month, yesterday, coal prices in the ICE Newcastle market (Australia) were at US$121/ton, marking a 1.68% increase compared to the previous day.

Coal prices are currently on an upward trend. This week alone, coal prices have skyrocketed by 4.09%, and over the past month, they have soared by 15.57%.

The upward trend in coal prices is benefiting companies listed on the Indonesia Stock Exchange (IDX). As of 10:43 AM WIB, PT Bumi Resources Tbk (BUMI) saw a 3.39% surge in its stock price, PT Harum Energy Tbk (HRUM) rose by 0.49%, and PT Indika Energy Tbk (INDY) increased by 0.37%.

Moreover, the rise in prices is also beneficial for the national economy as a whole. Coal is a key export commodity for Indonesia. According to the Central Statistics Agency (BPS), the export value of mineral fuels (dominated by coal) from January to May 2021 reached US$10.25 billion, contributing 12.9% to total non-oil and gas exports.

"Almost all non-oil and gas commodities have experienced price increases, such as coal, palm oil, tin, copper, nickel, and gold. Increased demand, coupled with price hikes, has significantly boosted our export performance," said Suhariyanto, Head of BPS, last week.

The increase in exports brings hopeful news as it could help Indonesia recover from economic recession. Export is a major contributor to the Gross Domestic Product (GDP) from the expenditure side.