Buyers of Indonesian Coal Claim Local Index Is Distorting Prices
A group of energy traders handling more than a 10th of Indonesia's thermal coal exports are calling for the replacement of a local index that they say is pushing prices above actual market levels.
The Coalindo Index, which makes up half of the weighting of the Indonesian Coal Index, has been out of line with other gauges for months, according to senior executives at four commodity trading houses that asked not to be named due to the sensitivity of the matter. Overseas demand for Indonesian coal will drop if the situation persists, they said.
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