Ministry of Trade: US Dollar Strengthening Pressures Copper and Gold Export Reference Prices
Jakarta (ANTARA) - The Ministry of Trade (Kemendag) states that the decline in the export reference price (HPE) for copper concentrate and gold commodities is influenced by the strengthening of the US dollar for the second period of April 2026.
In a statement from Kemendag in Jakarta on Thursday, the HPE for copper concentrate is set at $6,174.75 per Wet Metric Tonne (WMT) for the second period of April 2026.
This value represents a decrease of 4.97% compared to the first period of April 2026, which was recorded at $6,497.50 per WMT.
Additionally, the HPE for gold has fallen to $147,550.12 per kilogram from $157,267.62 per kilogram.
The reference price (HR) for gold has also declined to $4,589.33 per troy ounce (t oz) from $4,891.57 per t oz.
“The decline in gold and silver prices is mainly influenced by the strengthening US dollar and high yields, which pressure the attractiveness of precious metals as non-yield assets,” said Director General of Foreign Trade at Kemendag, Tommy Andana.
He added that high global interest rates, which suppress commodity demand, also affect the decline in the HPE for copper concentrate.
Price pressures are also influenced by an increase in copper inventory as well as a decrease in copper imports in China, reflecting subdued physical demand during that period.
During the data collection period, copper (Cu) prices fell by 2.93%, gold by 6.18%, and silver by 9.65%.
“Specifically for silver, price pressures are also influenced by higher volatility and a correction following price increases in the previous period, accompanied by subdued industrial demand,” said Tommy.
The HPE and HR are determined based on technical input from the Ministry of Energy and Mineral Resources (ESDM). This input refers to data from the London Metal Exchange (LME) for copper and the London Bullion Market Association (LBMA) for gold and silver.
“The determination is carried out through cross-ministerial coordination involving the Coordinating Ministry for Economic Affairs, Kemendag, the Ministry of ESDM, the Ministry of Finance, and the Ministry of Industry,” added Tommy.