Heaptalk, Jakarta — Mining product commodities subject to Export Duty (BK) for January 2024 period are experiencing price fluctuation after it had risen for all commodities in the previous period. This fluctuation is influenced by the demand level for mining products in the global market that ended up affecting the Benchmark Export Price (HPE) for mining products by export duty (BK) for the January 2024 period.
HPE for January 2024 period is found in the Decree of the Minister of Trade Number 2015 of 2023 concerning Export Benchmark Prices for Mining Products Subject to Export Duty. The decree was stipulated on 29 December 2023.
“The Mining product commodities subject to BK for the January 2024 period are experiencing fluctuations again after showing an escalation price for all commodities in the previous period. The commodities that experience increased prices being copper concentrate and laterite iron concentrate, while the price of lead concentrate and zinc concentrate fell in this period,” Director General of Foreign Trade, Ministry of Trade Budi Santoso clarified in the written press release on 29 December 2023.
The mining products that experienced increased price in the January 2024 period is copper concentrate (Cu ≥ 15%) with an average price of USD3.304,44/WE or an increase of 3,11%. In addition, laterite iron concentrate (gutite, hematite, magnetite) (Fe ≥ 50% and Al2O2 + SiO2 ≥ 10%) with an average price of USD59,81/WE or an increase of 8,06%/
Conversely, mining products whose prices fell in this period is lead concentrate (Pb ≥ 56%) with an average price of USD 862.59/WE or down 3.25%. Meanwhile Zinc concentrate (Zn ≥ 51%) was at an average price of USD 648.11/WE or down 0.91%.
Determination of HPE for mining products for the period January 2024 is executed after an input and written proposals from the Ministry of Energy and Mineral Resources (ESDM) as the relevant technical agency.
ESDM gave input with a data calculation based on the price development from various sources, namely Asian Metal, London Bullion Market Association (LBMA), and London Metal Exchange (LME). Then, the HPE was determined after a coordination meeting between related agencies, namely the Ministry of Trade, Ministry of Energy and Mineral Resources, Coordinating Ministry for Economic Affairs, Coordinating Ministry for Maritime Affairs and Investment, Ministry of Finance and Ministry of Industry.
Editorial teal: Wulan Dari, Prazna Alyfia Ghefira
