Indonesia Sets Lower Copper Export Benchmark Price for Early March 2026
Sat 28 Feb 2026, 01:06 AM
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The Trade Ministry has set Indonesia’s export benchmark price for copper concentrate (Cu ≥ 15 percent) at USD 6,684.18 per wet metric ton (WMT) for the period of March 1–14, 2026, marking a 0.12 percent decline from USD 6,692.35 per WMT in the second half of February.
The ministry issued the policy under Trade Minister Decree No. 375/2026 on export benchmark prices and reference prices for mining products subject to export duty. The decree was signed on February 27, 2026, and applies to the first half of March.
Trade Ministry Foreign Trade Director General Tommy Andana said the decline in copper’s export benchmark price was driven by profit-taking and a stronger US dollar as global copper prices entered a consolidation phase.
During the pricing period, copper prices on the London Metal Exchange briefly exceeded USD 13,000 per ton, reaching around USD 13,300 per ton on February 11. Prices later corrected to between USD 12,500 and USD 12,700 per ton before recovering to nearly USD 13,200 per ton by the end of February.
Tommy added that copper prices fell by 1.44 percent during the calculation period, while silver dropped by 15.09 percent and gold rose by 1.31 percent. “The increase in gold prices was driven by increased demand for safe-haven assets and purchases by several global central banks amid growing global economic challenges,” Tommy said in a statement in Jakarta on Saturday, February 28, 2026, as quoted on the ministry’s official website.
The government determines export benchmark and reference prices based on technical recommendations from the Energy and Mineral Resources Ministry, which refer to international market prices.
Copper prices use the London Metal Exchange as a reference, while gold and silver prices refer to the London Bullion Market Association. The pricing process also involves coordination with the Coordinating Economic Ministry, the Finance Ministry and the Industry Ministry.
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