Commodity analysts at Citi Group said last October than thermal coal prices were close to rock bottom as coal producers have squeezed almost all of the gains from increased productivity, lower fuel prices and weaker currencies (Platts, October 5th, 2015). They also predicted thermal coal prices to stabilise in 2016. Reference price of Indonesian thermal coal in the first half of 2016 might be a confirmation of such analysis.To subscribe please click here