Indonesia cuts copper, gold export benchmark prices for early April
Wednesday, April 1 2026 - 07:38 AM WIB
By Rara Suratmi
The Ministry of Trade lowered its export benchmark prices (HPE) for copper concentrate and gold for the first half of April, reversing increases seen in the second half of March, as global metal prices corrected.
The HPE for copper concentrate with a minimum copper content of 15% was set at $6,497.50 per wet metric ton (WMT) for April 1–14, down 4.35% from $6,792.97 per WMT in the March 15–31 period.
The ministry also reduced the HPE for gold to $157,267.62 per kilogram from $165,118.45 per kilogram previously. Meanwhile, the gold reference price (HR) fell to $4,891.57 per troy ounce from $5,135.76 per troy ounce.
The latest benchmarks are stipulated in Trade Minister Decree No. 559 of 2026 on Export Reference Prices and Reference Prices for Mining Products Subject to Export Duties, effective for April 1–14.
Tommy Andana, Director General of Foreign Trade at the ministry, said the decline in copper concentrate prices was driven by a correction in global prices of underlying minerals used in the HPE calculation.
Read also : Govt lifts copper, gold benchmark prices for late March
During the pricing period, copper prices fell 3.53%, gold declined 4.75% and silver dropped 7.68%, he said, adding that the pullback in gold prices followed earlier gains and adjustments in global financial markets.
The latest adjustment marks a reversal from the second half of March, when the ministry raised benchmark prices for both copper concentrate and gold on the back of stronger global demand and rising underlying mineral prices.
The ministry said the HPE and HR are determined based on technical inputs from Ministry of Energy and Mineral Resources, referring to international market benchmarks. Copper prices are based on the London Metal Exchange, while gold and silver prices refer to the London Bullion Market Association.
The pricing process involves coordination among several government bodies, 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.
Editing by Reiner Simanjuntak