节点：下游（终端消费/应用）位置：下游情绪：利空参考度：6/10
印尼能源和矿产资源部（ESDM）已明确9月份（二期）的参考煤炭价格（HBA）。
煤炭6322 GAR，价格为103.49美元/吨。其HBA当量热值达6322 kcal/kg GAR，总水分占比12.26%，总硫为0.66%，灰分占7.94%。相较于2025年9月份（一期）的105.33美元/吨，此次价格下跌了1.84美元。
煤炭I 5300 GAR，价格为64.40美元/吨。HBA I的当量热值为5300 kcal/kg GAR，总水分21.32%，总硫0.75%，灰分6.04%。相比2025年9月份（一期）的66.50美元/吨，下降了2.1美Ņ..
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