Indonesia set the reference prices for crude palm oil (CPO) products for the period September 2020 at US$738.07 a metric ton (MT) of CPO - Photo: Special

JAKARTA (TheInsiderStories) – Indonesia set the reference prices for crude palm oil (CPO) products for the period September 2020 at US$738.07 a metric ton (MT) of CPO, said the trade ministry on Tuesday (09/01). The new price rose 12.34 percent compared to prior month at $656.98 per MT of CPO.

While, the prices of several commodities mining products show a positive trend amid the pandemic and increasing world demand. According to the director general at the ministry, Didi Sumedi, the developments was affected the export benchmark price of mining products in this month.

In details, the reference price for cocoa beans in September was up 8.98 percent from $2,196.66 a MT to $2,392.00 per MT. The prices impacted to the cocoa beans benchmark prices  to $2,107 per MT or up 9.91 percent from August at $1,917 a MT. The increase in reference and benchmark prices for cocoa beans was due to stronger international prices but has no impact on the export levy, which remains at 5 percent.

He continued, the benchmark price for mining products experienced a fluctuations, especially copper concentrate, iron concentrate, laterite iron concentrate, lead concentrate, zinc concentrate, iron sand concentrate, ilmenite, and bauxite concentrates that have been washed compared to the last month. While, manganese concentrate commodity prices experienced a decline due to the excess supply as well as reduced market demand in manganese refineries from China.

Compared to August, mining products experienced an increased was copper concentrate (Cu≥15 percent) with an average price of $2,855.44/WE or up 7.45 percent, iron concentrate (hematite, magnetite) (Fe≥62 percent and ≤1 percent TiO2) at $99.70/WE or rose 11.22 percent, and laterite iron concentrate (gutite, hematite, magnetite) with levels (Fe≥50 percent and (Al2O3+SiO2) ≥10 percent) at 50.95/WE or jumped 11.22 percent.

Then, lead concentrate (Pb≥56 percent) at $771.38/WE or jumped 4.55 percent, zinc concentrate (Zn≥51 percent) at $550.45/WE or rised 10.63 percent, sand concentrate iron (lamella magnetite-ilmenite) (Fe≥56 percent) at $59.53/WE or up 11.22 percent, ilmenite concentrate (TiO2≥45 percent) with an average price at $275.83/WE or an increase of 4.38 percent, and washed bauxite (Al2O3≥42 percent) with price $22.96/WE or rose by 6.12 percent compared to August.

Otherwises, the products that decreased compared to the the previous month were manganese concentrate (Mn≥49 percent) with an average price of $212.93/WE or downby 21.18 percent.

Written by Editorial Staff, Email: theinsiderstories@gmail.com