2025 Peru Zinc Ores (HS Code 2608) Export: Volatile Surge

Key Takeaways

Zinc Ores, classified under HS Code 2608 (Zinc ores and concentrates), exhibited high volatility from January to November 2025.

• Market Pulse: Export weight surged 67% from January to October, with sharp monthly swings, before collapsing 95% in November—an anomaly likely tied to data reporting rather than market conditions.
• Structural Shift: Peru Zinc Ores Export market is dangerously concentrated, with China absorbing 57.3% of volume and two buyers accounting for 86.66% of total value, creating systemic risk.
• Product Logic: HS Code 2608 trade data reveals a commoditized market, where 99% of exports are bulk zinc ores priced at $1.06/kg, with minimal value-add beyond raw material extraction.

This overview covers the period from January to November 2025 and is based on verified customs data from the yTrade database.

Peru Zinc Ores (HS Code 2608) Key Metrics Trend

Market Trend Summary

The trends in Peru's Zinc Ores Export showed strong initial momentum through the first ten months of 2025, with January-October trade flows reflecting typical commodity volatility. Total export weight surged 67% from January to October, punctuated by sharp monthly swings: February and June saw volume spikes exceeding 45% and 28% month-on-month, respectively, while September contracted 26%. However, November data diverged drastically, with both weight and value collapsing over 95% from October levels—an anomaly inconsistent with Peru's role as the world's top zinc ore exporter [The Observatory of Economic Complexity].

Drivers & Industry Context

The volatility aligns with mineral export patterns influenced by processing cycles, logistics constraints, and HS code 2608 value fluctuations tied to global zinc demand. The June 2025 update to EU-Andean Community rules of origin—adjusting classifications under HS 2022—may have prompted temporary trade flow realignments as exporters adapted documentation [EU Taxation and Customs Union]. November’s aberrant drop likely reflects data reporting artifacts rather than market conditions, given Peru’s entrenched export volumes and absence of disruptive policy events in late 2025 (EU Taxation and Customs Union).

Table: Peru Zinc Ores Export Trend (Source: yTrade)

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Peru HS Code 2608 Export Breakdown

Market Composition & Top Categories

Peru's HS Code 2608 export market is overwhelmingly dominated by a single sub-category of zinc ores and concentrates, which accounts for 99% of the total export value and 98% of the weight shipped. According to yTrade data, this category moved 2.14 billion kilograms valued at $2.26 billion throughout the first eleven months of 2025. The remaining Peru HS Code 2608 export volume consists of a minor sub-category with negligible market share.

Value Chain & Strategic Insights

The unit price divergence—$1.06/kg for the dominant category versus $0.58/kg for the minor one—indicates a clear quality or processing grade differentiation within zinc ores. This HS Code 2608 breakdown confirms a classic commodity market structure, where volume and consistent quality dictate trade flows rather than niche specialization. Price sensitivity and bulk handling characterize this trade structure, with minimal value-add beyond the raw material stage.

Table: Peru HS Code 2608) Export Breakdown Details (Source: yTrade)

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Peru Zinc Ores Destination Countries

Geographic Concentration & Market Risk

Peru's zinc ore exports from January to November 2025 show extreme dependence on a single market. China accounts for 57.3% of the total export value, creating significant market concentration risk. This overwhelming share dwarfs the next largest partners, Spain (14.6%) and Canada (5.3%), making Peru's zinc sector vulnerable to shifts in Chinese industrial demand or trade policy changes.

Purchasing Behavior & Demand Segmentation

China's nearly identical value and weight ratios (57.3% vs 57.4%) confirm a pure commodity procurement pattern focused on bulk processing at scale. The exceptionally high shipment frequency (67.5% of all transactions) indicates a continuous, high-volume supply chain relationship rather than spot market trading. This profile defines China as a volume-scale market where Peru competes primarily on reliable delivery and consistent quality specifications for industrial consumption.

Table: Peru Zinc Ores (HS Code 2608) Top Destination Countries (Source: yTrade)

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Peru Zinc Ores Buyer Companies Analysis

Buyer Concentration & Market Structure

According to yTrade data, the Peru Zinc Ores export market is overwhelmingly dominated by a core group of high-volume, repeat buyers. This segment accounts for 86.66% of the total export value, indicating a market built on stable, contract-based supply chains with industrial consumers and long-term partners. The concentration among Peru Zinc Ores buyers is extremely high, with just two representative companies from this group responsible for the vast majority of the trade volume and value throughout 2025.

Purchasing Behavior & Sales Strategy

The purchasing patterns for HS Code 2608 reveal a market driven by key accounts that require consistent, high-volume shipments, suggesting sales strategy must focus on relationship management and supply chain reliability to retain these anchor clients. Given the extreme value concentration, there is significant risk if one major buyer shifts suppliers; diversifying the client base by targeting smaller, frequent traders could mitigate this exposure. For new customer acquisition, a targeted approach toward industrial end-users in processing and manufacturing sectors would align with the dominant buyer trends of large, recurring orders.

Table: Peru Zinc Ores (HS Code 2608) Top Buyers List (Source: yTrade)

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Action Plan for Zinc Ores Market Operation and Expansion

• Diversify buyer base: Target smaller, frequent traders to reduce reliance on the two dominant clients responsible for 86.66% of export value.
• Mitigate geographic risk: Expand into secondary markets like Spain (14.6% share) and Canada (5.3%) to lessen dependence on China’s 57.3% demand share.
• Lock in contracts: Hedge against volatility by securing long-term agreements with anchor buyers during stable periods, avoiding spot market exposure.
• Optimize logistics: Focus on bulk handling efficiency to maintain margins in a low-value, high-volume trade structure.
• Monitor policy shifts: Track EU-Andean Community HS Code updates to preempt disruptions like the June 2025 rules of origin adjustment.

Take Action Now —— Explore Peru Zinc Ores HS Code 2608 Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Peru Zinc Ores Export in 2025?

Peru's zinc ore exports surged 67% in weight from January to October 2025 but collapsed over 95% in November, likely due to data reporting anomalies rather than market shifts. The volatility reflects typical commodity trade patterns influenced by processing cycles and global demand fluctuations.

Q2. Who are the main destination countries of Peru Zinc Ores (HS Code 2608) in 2025?

China dominates with 57.3% of Peru's zinc ore export value, followed by Spain (14.6%) and Canada (5.3%). This extreme concentration makes Peru highly dependent on Chinese demand.

Q3. Why does the unit price differ across destination countries of Peru Zinc Ores Export in 2025?

The price gap stems from product differentiation: the dominant zinc ore sub-category trades at $1.06/kg, while a minor grade averages $0.58/kg, reflecting quality or processing variations.

Q4. What should exporters in Peru focus on in the current Zinc Ores export market?

Exporters must prioritize supply chain reliability for core buyers (86.66% of trade value) while diversifying to smaller traders to mitigate overreliance on a few clients and China’s market.

Q5. What does this Peru Zinc Ores export pattern mean for buyers in partner countries?

Buyers benefit from stable, high-volume shipments but face risks if Peru’s export disruptions occur. China’s bulk procurement model ensures consistent supply for industrial processing.

Q6. How is Zinc Ores typically used in this trade flow?

Zinc ores are primarily exported as raw materials for industrial processing, with minimal value addition beyond extraction, aligning with commodity-driven bulk trade structures.

Detailed Monthly and Quarterly Report

Peru HS Code 2608 Export Data Snapshot 2025 JAN

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