[ad_1]
Jakarta, CNBC Indonesia – Combined share price index (IHSG) in trading Monday (28/ 12/20) it successfully flew 0.91% high after the trade open had a wild move.
Along with rising JCI, IDX data noted, mining sector stocks rose, especially coal mining. This is demonstrated by the mining index that shot up the fastest and even exceeded the appreciation of JCI by 1.48%.
The increase in the share of the tariff sector is not less than ahcontract price futures Newcastle coal (futures) is still in the range of its highest level in the last year and a half despite experiencing a correction in trading last weekend.
Although hThe actively traded contract price has decreased by 0.41% compared to the previous trading period to US $ 84.5 / tonne., the contract remains It is close to the highest level since May 2019. Although it strengthened slightly, coal can now reserve 10 consecutive weeks of strengthening, totaling almost 47%.
Thanks to this impressive performance, coal prices so far this year are now strengthening more than 22% after being in the zonea red from the end of March to November 24. Watch the movement of coal stock prices in today’s trading.
Monitored trade data recorded that all giant coal emitters have managed to turn green and only one is red.
The increase itself was led by one million shares of coal from the people of PT Bumi Resources Tbk (BUMI) which successfully shot 8.33% to the level of Rp 78 / unit.
In second place came Indika’s subsidiary, PT Petrosea Tbk (PTRO), which also turned green by 1.82%. The issuer whose shares are also owned by veteran investor Lo Kheng Hong is trading at a price of Rp 1,960 / unit.
PT Bukit Asam Tbk (PTBA) The coal company Red Plate managed to occupy the third position after running 1.77% at the price level of Rp.2870 / unit.
Meanwhile, only the coal emitter PT Delta Dunia Makmur Tbk (DOID) was observed, which fell 2.07% to the level of Rp.378 / unit.
The rise in coal prices in recent weeks has not escaped sentiment mThe current cold season in China has increased the demand for jet rock. At the same time, China’s local coal supply is running low, causing the price to skyrocket.
The price of Chinese thermal coal for Qinhuangdao type is 5,500 Kcal / kg translucent at RMB728 / ton. While the informal target set by the government is only RMB500 – RMB570 / ton. Low local coal supplies prompted China to relax its import quota policy, but not Australia.
The conflict between China and Australia is heating up because the Covid-19 pandemic has also been one of the triggers for the increase in coal prices. As is known, Australia called for an international investigation into the corona virus that originated in China, which eventually turned into a pandemic.
CNBC INDONESIA INVESTIGATION TEAM
[Gambas:Video CNBC]
(trp / trp)
