Correction in metal prices pressures HPE for copper and gold concentrates
Jakarta (ANTARA) - The Ministry of Trade (Kemendag) states that the decline in the export reference price (HPE) for copper concentrate commodities in the first period of April 2026 is triggered by corrections in the prices of copper constituent minerals in the global market.
The Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, said the HPE for copper concentrate is set at $6,497.50 per Wet Metric Ton (WMT) for the first period of April 2026. This HPE is down 4.35% from the second period of March 2026, which was $6,792.97 per WMT.
“The decline in the HPE value for copper concentrate in this period is triggered by corrections in the prices of copper constituent minerals in the global market. The prices of those minerals serve as references in calculating the HPE for copper concentrate for the first period of April 2026,” said Tommy in a statement in Jakarta on Tuesday.
In line with that, the HPE for gold fell from $165,118.45 per kilogram to $157,267.62 per kilogram. The reference price (HR) for gold also dropped from $5,135.76 per troy ounce (t oz) to $4,891.57 per t oz.
Throughout the data collection period, copper prices fell 3.53%, gold 4.75%, and silver 7.68%.
“The decline in HPE and HR for gold occurred due to market corrections after the upward trend in the previous period, in line with adjustments in the global financial markets,” said Tommy.
The determination of these HPE and HR is contained in “Minister of Trade Decree (Kepmendag) No. 559 of 2026 on Export Reference Prices and Reference Prices for Mining Products Subject to Export Duty”. This Kepmendag applies to the period 1–14 April 2026.
The HPE and HR in Kepmendag No. 559 of 2026 are determined based on technical input from the Ministry of Energy and Mineral Resources (ESDM), which refers to international market prices.
Copper prices refer to the London Metal Exchange (LME), while gold and silver prices refer to the London Bullion Market Association (LBMA).
The determination of HPE and HR is carried out through cross-ministry coordination involving the Coordinating Ministry for Economic Affairs, Kemendag, the Ministry of ESDM, the Ministry of Finance, and the Ministry of Industry.