Coal prices moved higher and have higher still to go as Indonesia imposed a temporary ban on coal exports on worries that it will be unable to meet domestic demand. Reuters reported that President Joko Widodo had also threatened miners with business license revocation should they fail to supply enough coal for domestic consumption.
Indonesia is the world’s biggest exporter of thermal coal, and there is concern the ban will be disruptive to the global supply. According to Bloomberg, Indonesia is expected to export 482 million tons of coal,…Coal Price Set To Surge As Major Producer Indonesia Bans Exports
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