JAKARTA (TheInsiderStories) - Until the end of November 2020, the prices are several mining products showed a positive trend that continues amidst the COVID-19 pandemic, said trade ministry office today. Some commodities experienced a significant increase due to the demand and supply in world market.
“Export benchmark price for several mining products has increased due to increasing world demand. For commodities rutile concentrate has decreased in price, while for manganese concentrate and pellets iron sand concentrate has not changed,” said the director general, Didi Sumedi, in a written statement on Thursday (03/12).
He said, iron concentrate products increased by 3.92 percent, copper concentrate rose by 2.22 percent, zinc concentrate up by 1.52 percent, manganese concentrate jumped by 1.48 percent, concentrate ilmenite increased by 0.99 percent, and bauxite that has been washed increased by 0.39 percent compared to the prior month.
However, there are also mining products that are subject to export duty are experiencing a negative trend during 2020, like concentrates rutile decreased by 1.97 percent and lead concentrate by 0.20 percent.
Compared to the previous period, copper concentrate (Cu≥15 percent) stood at US$2,898.73/WE or increased of 1.85 percent, iron concentrates (hematite, magnetite) (Fe≥62 percent and ≤1 percent TiO2) rose by 0.75 percent to $103.87/WE, laterite iron concentrates (gutite, hematite, magnetite) with levels (Fe≥50 percent and (Al2O3 + SiO2) ≥10 percent) to $53.08/WE or lift 0.75 percent.
Then, lead concentrate (Pb≥56 percent) mounted 1.50 percent to $751.30/WE, zinc concentrate (Zn≥51 percent) $673.82/WE or up 12.74 percent, iron sand concentrate (lamella magnetite-ilmenite) (Fe≥56 percent) rose 0.75 percent to $62.02/WE, ilmenite concentrate (TiO2≥45 percent) jumped 5.16 percent to $304.29/WE, and bauxite that has been washed (Al2O3≥42 percent) with the average price was $25.30/WE or increased by 6.14 percent compared to November.
While, the mining products that decreased compared to the previous period were rutile concentrate (TiO2≥90 Percent) with an average price of $848.29/WE or a decrease 0.02 percent. Then, manganese concentrate (Mn≥49 percent) with an average price of $213.63/WE and iron sand concentrate pellets (lamella magnetite-ilmenite) (Fe≥54 percent) with an average price of $117.98/WE or did not change compared to previous month.
Written by Editorial Staff, Email: theinsiderstories@gmail.com.
