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To be Stopped, Copper Exports Reach a Record High of IDR 138 T in 2022
Story from Happy Fajrian • 5 hours agoThe Central Statistics Agency (BPS) noted that copper ore exports throughout 2022 reached 3.13 million tons, an increase of up to 40.35% from the previous year with a total of 2.23 million tons.
Meanwhile, the value of copper exports throughout 2022 is the highest record in Indonesia's history, reaching US$ 9.24 billion or equivalent to IDR 138.43 trillion, assuming a rupiah exchange rate of IDR 14,976 per US dollar.
The skyrocketing achievement of copper ore exports is allegedly due to the soaring demand for raw materials for processed products in the global industry. Especially in the needs of electrical infrastructure and battery development to the production of electric vehicles.
Executive Director of Energy Watch, Daymas Arrangga, said that the development of the battery and electric vehicle ecosystem in parallel will increase the demand for electricity transmission supply.
This condition automatically has an impact on significantly strengthening the demand for raw materials for supporting components such as cables and electricity transmission, which are generally produced from copper minerals.
"The battery ecosystem cannot run alone, it definitely needs support such as transmission and wiring. Raw materials for the production of supporting goods must also be available," said Daymas when contacted by telephone on Wednesday (25/1).
Japan's Main Destination for RI Copper Exports
The majority of Indonesian copper ore buyers come from East Asian countries which contribute a portion of up to 2.09 million tons or 66.77% of the total copper ore exports abroad throughout 2022.Japan became the largest export destination of Indonesian copper ore commodities with a total of 761.28 thousand tons from January to December 2022. The recorded transaction value reached US$ 2.28 billion. The purchase with the largest volume occurred in April amounting to 132.93 thousand tons.
Then there is China which occupies the second position through the total copper ore export volume of 597.36 thousand tons worth US$ 1.77 billion. The largest export occurred in August with a shipment volume of 109.97 thousand tons.
The number three position is South Korea through exports of 530.24 thousand tons of copper ore throughout 2022 worth US$ 1.63 billion. The three countries mentioned at the beginning are consistent as repeat customers and have never been absent from January to December 2022.
Furthermore, there is India in the fourth order with a total export volume of 284 thousand tons worth US$ 872 million. Furthermore, there is Taiwan which exports Indonesian copper ore amounting to 209.5 thousand tons with a transaction value of US$ 568 million.
Meanwhile, malaysia is also a potential market for Indonesian copper ore with a sales volume of 199.5 thousand tons worth US$ 559 million.
The Ministry of Energy and Mineral Resources noted that when it was still an ore, copper was only at a price of US $ 4.36 per ton. The selling price will increase to US$ 1,365 per ton if processed into copper concentrate.
Moreover, the price of copper commodities will be of higher value if it has passed the refining phase into copper cathodes at a price of US $ 6,049 per ton. The end product is copper cable with a selling price of up to US$ 13,000 per ton.