JAKARTA – The Ministry of Trade (Kemendag) reported that the majority of taxed mining commodities (BK) still showed an increase in prices during the period of July 2024.
According to Director General of Foreign Trade Budi Santoso, this price increase is influenced by the high demand for mining products in the global market, which has an impact on the determination of Export Code (HPE) prices.
“The majority of mining commodities carried by BK continue to increase in prices in the July 2024 period compared to the previous period,” Budi said in a statement in Jakarta, citing ANTARA, Saturday, June 29.
The commodities that saw an increase in prices during this period, namely copper concentrate, lead concentrate and zinc concentrate, while for laterite iron concentrate, saw a decline in prices.
Mining products that saw an average price increase for the period of July 2024 are copper concentrate (Cu 15%) with an average price of US$3,919.08 per OEM or an increase of 0.76%, copper concentrate (Pb 56%) with an average price of US$903.55 You or an increase of 0.66%, and zeng concentrate (Zn 51%) with an average price of US$811.19 per OEM or an increase of 0.66%.
Meanwhile, the mining products that experienced a decrease in the average price for the period of July 2024 were iron laterite concentrates (kutit, hemamit, magneite) (Fe lebih 50% and Al2O2 + SiO2 lebih 10%) with an average price of 49.79 US dollars per EES or down 3.26%.
The determination of HPE mining products for the period of July 2024 was carried out by requesting in advance a written contribution/proposal from the Ministry of Energy and Mineral Resources (ESDM) as the relevant technical agency.
Before submitting the proposal, the Ministry of Energy and Mineral Resources carried out calculations of price data obtained from the Asian Metals Data, London Metal Market Association (LBMA) and London Metal Exchange (LME).
Furthermore, the HPE was appointed during a coordination meeting between relevant agencies consisting of the Coordinating Ministry of Economic Affairs, the Coordinating Ministry of Maritime Affairs and Investment, the Ministry of Commerce, the Ministry of energy and mineral resources, the Ministry of Finance and the Ministry of Industry.
Tag: Ministry of Trade Mining Exports
