DIGIVESTASI - The Ministry of Trade (MoT) announced that in February 2024, the majority of mining products subject to export tax experienced price increases compared to January 2024. 

This price increase is due to increased demand for these mining products in the global market. This has an impact on the determination of the export reference price (HPE) of mining products subject to export tax (BK) for the February 2024 period which is determined based on the Decree of the Minister of Trade Number 140 of 2024 dated January 30, 2024 concerning Determination of Export.

reference price (HPE). Export reference price for mineral exploitation products subject to export tax.  "Most mining products subject to export tax in February 2024 experienced price increases compared to the previous period. These products are copper concentrate, laterite iron concentrate, and zinc concentrate.  Director General of Foreign Trade Budi Santoso in an official release, Thursday (January 2, 2024): "Meanwhile, the amount of lead concentrated in this period is still on a downward trend."

Mining products that experienced an average price increase during the February 2024 period were; Copper concentrate (Cu = 15%) had an average price of 3,329.80 USD/WE, an increase of 0.73%; laterite concentrate (gutite, hematite, magnetite) (Fe = 50% and Al2O2 + SiO2 = 10%) with an average price of 61.14 USD/WE, an increase of 2.22%; and zinc concentrate (Zn = 51%) with an average price of 660.57 USD/WE, an increase of 1.92%. 

Meanwhile, mining products that experienced a decrease in average prices in February 2024 were tin ore (Pb = 56%) with an average price of 841.96 USD/WE, a decrease of 2.39%. 

The determination of HPE for mineral exploitation products for the February 2024 period is carried out by first obtaining written opinions/suggestions from the Ministry of Energy and Mineral Resources (ESDM) as the authorized technical agency. 

This proposal was submitted by the Ministry of Energy and Mineral Resources after taking into account data based on price developments obtained from Asian Metal, London Bullion Market Association (LBMA), and London Metal Exchange (LME). . Furthermore, the determination of HPE is carried out after a coordination meeting between relevant agencies, namely: Ministry of Trade, Ministry of Energy and Mineral Resources, Coordinating Ministry for the Economy, Coordinating Ministry for Maritime Affairs and Investment, Ministry of Finance, and Ministry of Finance. Industry.

Decree of the Minister of Trade Number 140 of 2024 concerning the Export Benchmark Price of Mining Products Subject to Output Tax for the period February 1 to 29, 2024 can be downloaded via: https:/ /jdih.kemendag .go.id/peraturan / detail/2961/ 1.