JAKARTA, Dec. 28 (Xinhua): Miners in Indonesia expected recovery next year after being hit hard by the decline of global commodity price this year as global economy weakens, while oil producers forecast prices to stabilize, media reported here today.
Prediction from executives, government officials and mining industry analysts said that the prices will recover. When winter hit southern hemisphere, it was going to push up coal price and it would be more stable next year as consumption of energy was going to increase, Bob Kamandanu, the chairman of the Indonesian Coal Mining Association (APBI) was quoted by the Jakarta globe as saying.
“I personally think coal prices will hover between the lower 90s to mid-90s [dollars per metric ton] next year,” said Bob. The chairman urged miners in Indonesia to seek possibility to diversify export market of the commodity.