The Indonesian government set its coal benchmark price (HBA) for July at $52.16 per tonne, down from $52.98 per tonne last month, the Energy and Mineral Resources Ministry said in a statement on Friday

The July benchmark price is the lowest since June 2016, according to Refinitiv data

The price benchmark extended its decline due to rising coal inventories in major markets India and China, the ministry said in the statement, as the coronavirus outbreak hurt demand

The HBA is a monthly average of the Argus-Indonesia Coal Index (ICI-1), the Platts Kalimantan 5,900 assessment, the Newcastle Export Index and the globalCOAL Newcastle index from the previous month. (Reporting by Wilda Asmarini, Writing by Fransiska Nangoy, Editing by Ed Davies)