Home ECONOMY Early 2023 Mining Export Commodity Prices Increase From Iron to Ilmenite

Early 2023 Mining Export Commodity Prices Increase From Iron to Ilmenite

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Early 2023 Mining Export Commodity Prices Increase From Iron to Ilmenite

Jakarta, Timerilis.com – The Ministry of Trade (Kemendag) stated that the trend of mining commodity prices at the beginning of 2023 increased compared to December 2022.

The General Director (Dirjen) of Foreign Trade of the Ministry of Trade, Budi Santoso said this increase was due to the demand for market commodities in the world at the end of 2022.

This affects the analysis of determining the Export Benchmark Price (HPE) for mining products to export duties in the January 2023 period.

“Almost all mining product commodities that are subject to export duties have experienced an increase in prices compared to the previous period,” said Budi, Jakarta, Friday (30/12/2022).

According to Budi, the commodities that increased in price are copper concentrate, iron concentrate, laterite iron concentrate, manganese concentrate, lead concentrate, zinc concentrate, ilmenite concentrate, iron sand concentrate, rutile concentrate, and bauxite which had been stolen.

Budi continued with details of copper concentrate (Cu > 15%) with an average price of USD 3,095.22/WE, an increase of 4.78%.

Iron concentrate (hematite, magnetite) (Fe > 62% and 1% TiO2) with an average price of USD 89.30 WE, an increase of 20.02%.

Then, laterite iron concentrates (gunite, hematite, magnetite) with levels (Fe > 50% and (Al2O3 + SiO2) > 10%) with an average price of USD 45.63/WE, an increase of 20.02%.

While manganese concentrate (Mn > 49%) with an average price of USD 218.99/WE or an increase of 0.22%.

“Lead concentrate (Pb> 56%) with an average price of USD 887.45/WE, an increase of 6.20%. Zinc concentrate (Zn> 51%) with an average price of USD 898.52/WE, an increase of 9.51%. Iron sand concentrate (lamella magnetite-ilmenite) (Fe > 56%) with an average price of USD 53.32/WE, an increase of 20.02%,” explained Budi.

Further details, ilmenite concentrate (TiO2 > 45%) with an average price of USD 455.99/WE, an increase of 3.63%.

Rutile concentrate (TiO2 > 90%) with an average price of USD 1342.08/WE, an increase of 0.77%. Washed bauxite (Al2O3 > 42%) with an average price of USD 32.32/WE, an increase of 4.93%.

“Meanwhile, iron sand concentrate for pellet mining products (lamella magnetite-ilmenite) (Fe > 54%) with an average price of USD 117.98/WE are still unchanged,” he explained. (Eva)