Coal Mining - Photo: Special

JAKARTA (TheInsiderStories) – Global fluctuations affected the the Export Benchmark Price (EBP) of mining products for in April. Compared to benchmark price in March, most of the commodities experienced a rise.

“The product which experienced an increase namely copper concentrate, manganese concentrate, lead concentrate, zinc concentrate, ilmenite concentrate, nickel and bauxite,” said the Director General of Foreign Trade at Trade ministry Oke Nurwan via a press release yesterday.

A number of mining products worn by export levy are copper concentrates, iron concentrates, laterite iron concentrate, iron sand concentrate, iron sand pellet concentrate, manganese concentrate, lead concentrate, zinc concentrate, ilmenite concentrate, rutile, nickel and bauxite concentrates which washing has been done.

The basic EBP price calculation for iron concentrate commodities, laterite iron concentrate, iron sand concentrate, manganese concentrate, ilmenite concentrate, and rutile concentrate is sourced from Asian Metal. Whereas copper concentrate, iron sand concentrate pellets, lead concentrate, concentrate zinc, nickel and bauxite are sourced from the London Metal Exchange (LME).

Compared to the previous period, mining products that experienced an average price increase in April were copper concentrates (Cu ≥ 15 per cent) which were set at an average price of US$2,347.56/WE or an increase of 3.87 per cent.

Manganese concentrate (Mn ≥ 49 per cent) with the average price is $293.50/WE or an increase of 4.43 per cent, lead concentrate (Pb ≥ 56 per cent) with the average price is $ 854.68/WE or an increase of 1.04 per cent.

Zinc concentrate (Zn ≥ 51 per cent) at a price an average of $756.72/WE or an increase of 4.38 per cent, ilmenite concentrate (TiO2 ≥ 45 per cent) at a price an average of $218.05/WE or an increase of 2.19 per cent.

Rutile concentrate (TiO2 ≥ 90 per cent) at a price an average of $893.18/WE or an increase of Sar 0.30 per cent, nickel (Ni <1.7 per cent) with an average price $18.81/WE or increase by 6.21 per cent, and bauxite that has been washed (Al2O3 ≥ 42 per cent) with an average price of $25.20/WE or an increase of 0.49 per cent.

Meanwhile, iron concentrate (hematite, magnetite) with levels (Fe ≥ 62 per cent and TiO2 ≤ 1 per cent), laterite iron concentrate (gutite, hematite, magnetite) with levels (Fe ≥ 50 per cent and (Al2O3 + SiO3) ≥ 10 per cent), iron sand concentrate (Lamela magnetite-ilmenite) (Fe ≥ 56 per cent) and iron sand concentrate pellets (Lamela magnetite-ilmenite) (Fe ≥ 54 per cent) has not changed.

In determining the benchmark price for mining products imposed with the export tariff, Nurwan said that the ministry has coordinated and received several suggestions from related institutions. This policy is stipulated in Minister of Trade Regulation Number 27 Year 2019 released on March 25.

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