Indonesia' government has lowered the benchmark price of mining products exports duty for September - Photo: Special

JAKARTA (TheInsiderStories) – Global fluctuations affected the Indonesian export benchmark price of mining products in November 2019. Products of iron concentrate, lead concentrate, zinc concentrate, ilmenite concentrate, rutile concentrate, and nickel have increased. In opposite, copper concentrate, manganese, and bauxite concentrate have decreased.

“The export benchmark price of some mining products has increased or decreased due to international price fluctuations,” director general of foreign trade Indrasari Wisnu Wardhana, said in a written statement on Monday (11/11), adding the provision as stipulated in trade minister regulation number 86 the Year 2019, dated November 7, 2019.

Compared to the previous month, it said, mining products that experienced an average price increase in this month were iron concentrates (hematite, magnetite) (Fe ≥ 62 percent and ≤ 1 percent TiO2) with an average price of US$76.99 / WE or increase by 2.74 percent.

Then, laterite iron concentrates (gutite, hematite, magnetite) with levels (Fe ≥ 50 percent and (Al2O3 + SiO2) ≥ 10 percent) with an average price of $39.34 / WE or an increase of 2.74 percent, lead concentrate (Pb ≥ 56 percent) with an average price of $874.83/WE or an increase of 2.87 percent.

Furthermore, zinc concentrate (Zn ≥ 51 percent) with an average price of $589.93/WE or an increase of 3.04 percent, iron sand concentrate (lamella magnetite-ilmenite) (Fe ≥ 56 percent) with an average price of $45.97 / WE or an increase of 2.74 percent.

While, ilmenite concentrate (TiO2 percent 45 percent) with an average price of $243.60/WE or an increase of 3.47 percent, rutile concentrate (TiO2 ≥ 90 percent) with an average price of $961 , 04/WE or an increase of 4.18 percent, and Nickel (Ni <1.7 percent) with an average price of $25.26/WE or an increase of 1.63 percent.

On the opposite, the product that experienced a decline was copper concentrate (Cu ≥ 15 percent) with an average price of $2,334.02 /WE or a decrease of 0.80 percent, manganese concentrate (Mn ≥ 49 percent) with an average price $224.53 / WE or down 8.89 percent, and washed bauxite (Al2O3 ≥ 42 percent) with an average price of $23.24 / WE or down 1.63 percent.

Meanwhile, the iron sand concentrate (Lamela magnetite-ilmenite) pellet (Fe ≥ 54) with an average price of $117.98/WE did not change. According to Wardhana, the determination of the price was determined after taking into account various written inputs and coordination from various related agencies.

Written by Lexy Nantu, Email: lexy@theinsiderstories.com