International price fluctuations affected the benchmark prices exports of mining products subject to export duty for the period of January 2020 - Photo: Special

JAKARTA (TheInsiderStories) – International price fluctuations affected the benchmark prices exports of mining products subject to export duty for the period of January 2020, said government official. Compared to the prices for the December 2019 period, most commodities experienced an increase.

“Benchmark prices of a number mining products has experienced an increase is caused by the fluctuation of international prices. Copper concentrate products, iron concentrate, concentrate ilmenite, rutile concentrate, and bauxite have increased,” said the director general at trade ministry, Indrasari Wisnu Wardhana in an official statement on Thursday (01/02).

A number of mining products like copper concentrate, iron concentrate, laterite iron concentrate, iron sand concentrate, pellet iron sand concentrate, manganese concentrate, lead concentrate, zinc concentrate, ilmenite concentrate, rutile concentrate, and bauxite which have been carried out washing.

Calculation of base price of for commodities of iron concentrate, laterite iron concentrate, concentrate iron sand, manganese concentrate, ilmenite concentrate, and rutile concentrate are sourced from Asian Metal and Iron Ore Fine Australian. Whereas copper concentrate, iron sand concentrate pellet, lead concentrate, zinc concentrate, and bauxite are sourced from the London Metal Exchange (LME).

Compared to the previous period, mining products have experienced price increases the average in the January 2020 period is copper concentrate (Cu≥15 percent) with average price of US$2,364.17/WE or an increase of 0.49 percent. Then, iron concentrate (hematite, magnetite) (Fe≥62 percent and ≤1 percent TiO2) with an average price of $75.19/WE or an increase of 7.34 percent.

For laterite iron concentrate (gutite, hematite, magnetite) with levels (Fe≥50 percent and (Al2O3 +SiO2) ≥10 percent) the government set an average price of $38.42/WE or an increase of 7.34 percent. While, concentrate iron sand (lamela magnetite-ilmenite) (Fe≥56 percent) with an average price of $44.89/WE or up by 7.34 percent.

in addition, ilmenite concentrate (TiO2≥45 percent) with an average price of $257.37/WE or an increase of 1.95 percent, rutile concentrate (TiO2≥90 percent) with an average price of $1,008.31/WE or an increase of 2.14 percent, and bauxite that has been washed (washed bauxite) (Al2O3 ≥42 percent) with an average price of $23.79/WE or an increase of 0.25 percent.

While the product decreased compared to the previous period’ benchmark price for manganese concentrate (Mn ≥49 percent) with an average price of $180.2/WE or decreased by 9.72 percent. Lead concentrate (Pb ≥56 percent) with an average price of $787.3 /WE or down amounted to 10.79 percent.

The zinc concentrate (Zn ≥51 percent) with an average price of $569.70/WE or down by 13.1 percent. Moreover, iron sand concentrate (lamela magnetite-ilmenite) pellets (Fe≥54) with an average price $117.98/WE did not change.

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