The Ministry Of Trade Notes That Parts Of Mining Product Prices Drop In December

Illustration. (Photo: Doc. Antara)

JAKARTA - The Ministry of Trade (Kemendag) noted that some of the mining product commodities, which were subject to exit duties (BK) in December 2024, experienced a price decline after rising in the previous month.

The Director General of Foreign Trade at the Ministry of Trade, Isy Karim, said the price decline was due to the decline in demand for mining products in the world market.

This price fluctuation affects the price of the export benchmark (HPE) for mining products worn by BK for the December 2024 period.

"Some of the mining product commodities worn by BK fell prices in the December 2024 period after the price had increased in November 2024. This price decline was due to a decrease in demand for these commodities in the world market," Isy said in a statement in Jakarta, quoted from Antara, Tuesday, December 3.

Mining products with an average price reduction in the period December 2024, namely a copper concentrate (Cu Laughs 15 percent) with an average price of 4,040.97 US dollars per WE or a decrease of 1.20 percent and a lead concentrate (Pb Laughs 56 percent) with an average price of 818.53 US dollars per WE or a decrease of 3.16 percent.

Meanwhile, mining products with an average price increase in the December 2024 period were laterite iron concentrate (gulit, hematite, magnetite) (Fe Laugh 50 percent and Al2O2 + SiO2 10 percent) with an average price of 44.25 US dollars per WE, an increase of 1.83 percent and a concentrat zinc (Zn mink 51 percent) with an average price of 887.63 US dollars per WE, an increase of 0.16 percent.

HPE mining products for the period December 2024 were determined based on written input from the Ministry of Energy and Mineral Resources (ESDM) as the relevant technical agency.

Prior to providing the proposal, the Ministry of Energy and Mineral Resources calculated data based on prices from Asian Metal, the London Bullion Market Association (LBMA), and the London Metal Exchange (LME).

Furthermore, HPE was determined after a coordination meeting between related agencies consisting of the Coordinating Ministry for Economic Affairs, the Ministry of Trade, the Ministry of Energy and Mineral Resources, the Ministry of Finance, and the Ministry of Industry.