Indonesia sets August coal benchmark price at lowest ever

Indonesia set its August coal benchmark price at $50.34 per tonne, the lowest ever price on record, the country's energy and mineral resources ministry said in a statement on Wednesday.

In July, Indonesia's coal benchmark price was set at $52.16 per tonne, the lowest since June 2016.

"The decline... is still due to the COVID-19 pandemic which has resulted in falling demand in several coal importing countries, while coal stocks in the global market have also increased," said ministry spokesman Agung Pribadi, in the statement.

(Reporting by Bernadette Christina Munthe; Writing by Fathin Ungku; Editing by Muralikumar Anantharaman)