Copper, gold concentrate HPE rise for early January 2026 on stronger global demand
Monday, January 5 2026 - 08:11 AM WIB
By Rara Suratmi
The Ministry of Trade has raised the Export Benchmark Price (HPE) for copper concentrate (Cu ≥ 15 percent) for the first half of January 2026, citing stronger global demand for industrial and precious metals.
Under a Minister of Trade decree effective for the period of January 1–14, 2026, the HPE for copper concentrate was set at US$5,868.51 per wet metric ton (WMT), up 4.54% from US$5,613.83 per WMT in the second half of December 2025.
The HPE for gold also increased to US$138,324.41 per kilogram from US$133,912.59 per kilogram previously, while the gold reference price (HR) rose to US$4,302.37 per troy ounce (oz), from US$4,165.15 per oz.
The adjustments are stipulated in Minister of Trade Decree No. 2404/2025 on export benchmark prices for mining products subject to export duties.
Acting Director-General of Foreign Trade at the Ministry of Trade, Tommy Andana, said the higher benchmark prices reflect rising global demand for copper and precious metals, particularly to support the development of power generation, electric-vehicle ecosystems and strategic infrastructure projects worldwide.
Read also : Copper concentrate HPE edges up for first-half December
“Rising prices of minerals that make up copper concentrate were driven by stronger global demand, especially for the electricity sector, electric-vehicle ecosystems and strategic infrastructure development,” Tommy said, adding that a weaker U.S. dollar also encouraged investors to shift toward commodities as a hedge amid global economic uncertainty.
He said the increase in the copper concentrate HPE was supported by a simultaneous rise in prices of its constituent metals during the data collection period, with copper prices rising 5.75%, gold gaining 3.29% and silver posting the largest increase at 16.46%.
“The combined increase in these three metals had a direct impact on the export value of copper concentrate,” Tommy said.
The ministry said the determination of the HPE and HR was based on technical input from the Ministry of Energy and Mineral Resources (ESDM), which refers to international market prices. Copper prices are benchmarked against the London Metal Exchange (LME), while gold and silver prices refer to the London Bullion Market Association (LBMA).
The pricing process involved coordination among several government institutions, including the Coordinating Ministry for Economic Affairs, the Ministry of Trade, the Ministry of Energy and Mineral Resources, the Ministry of Finance and the Ministry of Industry, to ensure transparency and business certainty for industry players.
Editing by Reiner Simanjuntak