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Argus/Coalindo Indonesian Coal Index Report

An Argus market service, published weekly

The Argus/Coalindo Indonesian Coal Index Report produces the Indonesian Coal Index (ICI 1, 2, 3, 4 and 5), a series of five Indonesian price assessments that provide direct, independent and reliable valuations of Indonesian coal.

The ICI is used as the leading coal price reference by buyers and sellers of Indonesian coal for spot trade, tax calculations, financial and investment analysis, strategic reporting and production planning. The ICI is also used in the computation of the Indonesian domestic coal price and serves as a planning tool for producing companies required to fulfil domestic sales quotas.

Argus is the first publisher to assess prices for coal with less than GAR 4,000 kcal/kg following the 10 November 2011 launch of ICI-5, which assesses 3,400 kcal/kg coal. This index reflects growing interest in lower-calorific value Indonesian coal from Asia-Pacific’s largest coal importers, in line with rising production of such grades.

The ICI is jointly produced by Argus and PT Coalindo Energy and is only available in the Argus/Coalindo Indonesian Coal Index Report.

The basket pricing methodology used to derive the weekly ICI involves regular and independent participation from buyers, sellers and intermediaries. This leads to a balanced and consistent assessment of the market.

Markets Covered

The report provides weekly average Indonesian coal prices as well as monthly averages for the previous three months. The figures supplied are for coal grades 6,500 (ICI 1), 5,800 (ICI 2), 5,000 (ICI 3), 4,200 (ICI 4) and 3,400 (ICI 5) kcal/kg GAR.

Key Features

  • Weekly average Indonesian coal indexes
  • Monthly ICI averages
  • Coal grade specifications for fob Kalimantan
  • Reference graphs on competitive trends versus South African and Australian coal (Argus fob Richards Bay and fob Newcastle)
  • Price assessments based on internationally traded spot physical markets
  • Market-appropriate methodology


The Argus/Coalindo Indonesian Coal Index Report is an essential source for anyone who is involved in the Asian coal market. Our subscribers include coal traders, procurement managers, coal producers, market analysts, corporate financiers, power generators, cement and pig iron plants, shipping companies, government authorities, capital investment firms and financial institutions.

Quick Links

View the Argus/Coalindo Indonesian Coal Index Report methodology

Download a sample copy

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