Peru Precious Metal Ores HS261690 Export Data 2025 February Overview

Peru Precious Metal Ores (HS 261690) 2025 February Export: Key Takeaways

Peru's Precious metal ores (HS Code 261690) Export in February 2025 reveals a high-risk dependence on China, which accounted for 95% of shipments but paid lower unit prices (2.19 USD/kg) for bulk, lower-grade ores, while India's smaller share commanded a premium (4.72 USD/kg). The market shows stark geographic concentration, with China dominating volume but India offering higher-value opportunities, signaling a need for diversification. This analysis covers February 2025 and is based on cleanly processed Customs data from the yTrade database.

Peru Precious Metal Ores (HS 261690) 2025 February Export Background

What is HS Code 261690?

HS Code 261690 classifies precious metal ores and concentrates, excluding silver. These ores are critical raw materials for industries like electronics, automotive catalysts, and jewelry manufacturing. Global demand remains stable due to their irreplaceable role in high-tech applications and investment hedging. Peru’s exports under this code primarily include gold, platinum, and palladium ores, which are key to global supply chains.

Current Context and Strategic Position

The EU-Colombia-Peru-Ecuador preferential trade agreement updated its rules of origin in June 2025 to align with HS 2022 adjustments, potentially impacting Peru’s export compliance [European Commission]. Meanwhile, the U.S.-Peru Trade Promotion Agreement (TPA) maintains tariff-free access for Peruvian exports, though broader U.S. tariff policies introduced in April 2025 (10% baseline) could indirectly affect competitiveness [U.S. Trade Representative, EY Tax News].

Peru’s strategic significance lies in its position as a top global producer of precious metal ores. The February 2025 trade landscape requires vigilance due to shifting tariff policies and HS code harmonization. Monitoring Peru’s HS Code 261690 exports is essential to assess supply chain resilience and price volatility risks.

Peru Precious Metal Ores (HS 261690) 2025 February Export: Trend Summary

Key Observations

Peru's export of precious metal ores under HS Code 261690 in February 2025 totaled $246.91 million in value and 111.82 million kilograms in volume, indicating a significant monthly decline.

Price and Volume Dynamics

Compared to January 2025, both value and volume fell sharply, with value dropping by approximately 27% and volume by 23%. This decrease likely stems from seasonal mining output reductions, as February often experiences lower production due to weather-related disruptions or operational maintenance cycles typical in the precious metals ore industry.

External Context and Outlook

The export decline occurred amid generally stable trade conditions, supported by existing agreements such as the U.S.-Peru Trade Promotion Agreement [U.S. Trade.gov], which ensures tariff-free access for many goods. However, the impending U.S. 10% baseline tariff effective April 2025 (EY Tax News) could heighten cost pressures and volatility for Peru's precious metal ores exports later in the year.

Peru Precious Metal Ores (HS 261690) 2025 February Export: HS Code Breakdown

Product Specialization and Concentration

Peru's February 2025 export of Precious metal ores under HS Code 261690 is entirely concentrated in a single product: Precious metal ores and concentrates (excluding silver). yTrade data confirms this sub-code holds a 100% share of both export value and weight, with all shipments priced at $2.21 per kilogram. This total dominance indicates a highly specialized trade flow focused exclusively on bulk ore exports without silver content during this period.

Value-Chain Structure and Grade Analysis

The export structure consists solely of one product category: raw, unrefined precious metal ores in bulk form. There are no other sub-codes present to create meaningful value-stage or quality differentiations. This singular product form confirms Peru's trade in HS Code 261690 operates as a fungible bulk commodity business, where products compete primarily on volume and mineral content rather than manufacturing differentiation or brand value.

Strategic Implication and Pricing Power

For Peru Precious metal ores HS Code 261690 Export 2025 February, the complete reliance on a single bulk commodity creates significant exposure to global mineral price fluctuations. Market players have limited pricing power and must focus on production efficiency and cost control. The low unit price of $2.21/kg suggests these ores operate in a competitive market where Peru acts as a price-taker rather than price-setter. Strategic focus should remain on maintaining competitive extraction costs and securing stable offtake agreements with international smelters and refiners.

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Peru Precious Metal Ores (HS 261690) 2025 February Export: Market Concentration

Geographic Concentration and Dominant Role

In February 2025, Peru's export of Precious metal ores HS Code 261690 was highly concentrated, with CHINA MAINLAND as the dominant buyer, accounting for 95.12% of shipment frequency and 99.20% of weight, but only 98.29% of value. This disparity, with value ratio lower than weight ratio, indicates a lower unit price of approximately 2.19 USD/kg for China-bound ores, pointing to bulk, lower-grade commodity exports.

Partner Countries Clusters and Underlying Causes

The export partners divide into two clusters: China, with massive volume and low unit price, likely serving as the primary processing hub for raw ores, and India, with a smaller share but higher unit price of 4.72 USD/kg, suggesting purchases of higher-quality or specialized ores. This pattern may stem from China's industrial demand for bulk inputs and India's focus on niche, value-added applications.

Forward Strategy and Supply Chain Implications

Peru should work to diversify its export markets beyond China to mitigate supply chain risks. Exploring trade agreements, such as the US-Peru Trade Promotion Agreement [trade.gov], could offer tariff advantages for expanding into new regions, though current data shows limited direct impact on ores. Focusing on quality improvements or targeting markets like India for higher-value exports may enhance resilience.

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Peru Precious Metal Ores (HS 261690) 2025 February Export: Buyer Cluster

Buyer Market Concentration and Dominance

The buyer market for Peru Precious metal ores Export in 2025 February, under HS Code 261690, is sharply concentrated among four segments of buyers. According to yTrade data, one group dominates overwhelmingly: buyers who purchase large volumes frequently hold 96.62% of the export value. This cluster also accounts for 68.29% of all transactions, indicating a market driven by few but consistent high-value relationships. The median export activity is characterized by high volume and high frequency, with no significant presence from other buyer types in this period.

Strategic Buyer Clusters and Trade Role

Only one other buyer segment shows activity: those with low value but high frequency purchases, representing 3.38% of value and 31.71% of transactions. This suggests smaller, regular buyers, possibly local traders or minor refiners who deal in smaller consignments. The absence of high-value infrequent buyers and low-value infrequent buyers points to a market where sporadic or speculative trading is minimal, reinforcing the commodity nature of precious metal ores where bulk, steady deals prevail.

Sales Strategy and Vulnerability

For Peruvian exporters, the strategy must focus on maintaining strong ties with dominant high-volume buyers to secure revenue. The high dependence on this cluster creates vulnerability to demand shifts or buyer-side issues. However, trade agreements like the U.S.-Peru Trade Promotion Agreement [U.S. Trade.gov] offer stability by reducing tariff barriers. Recent updates to preferential trade systems, such as the EU harmonization [EU Taxation and Customs Union], support continued access. Sales should prioritize direct, long-term contracts over diversifying to smaller buyers, given their limited impact.

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Peru Precious Metal Ores (HS 261690) 2025 February Export: Action Plan for Precious Metal Ores Market Expansion

Strategic Supply Chain Overview

Peru Precious metal ores Export 2025 February under HS Code 261690 operates as a pure bulk commodity. Price is driven by global mineral indices and China's industrial demand. Supply chains are vulnerable due to extreme buyer and geographic concentration. Peru acts as a price-taker with limited control over final value.

Action Plan: Data-Driven Steps for Precious metal ores Market Execution

• Negotiate long-term contracts with high-volume buyers. Use shipment frequency data to lock in stable revenue and reduce exposure to spot price volatility.
• Diversify export destinations beyond China. Target markets like India with higher unit prices by leveraging trade agreement benefits, such as those under the U.S.-Peru Trade Promotion Agreement.
• Improve ore quality and grading. Focus on producing higher-grade concentrates to access premium markets and reduce reliance on low-value bulk sales.
• Monitor buyer purchase patterns monthly. Use transaction data to anticipate demand shifts and adjust production schedules to avoid oversupply.

Risk Mitigation: Forward-Looking Adjustments

The extreme dependence on China creates significant risk. Any shift in Chinese demand or trade policy would directly impact revenue. Diversification into higher-value markets is essential for long-term stability. The current structure offers no buffer against external shocks.

Take Action Now —— Explore Peru Precious metal ores Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Peru Precious metal ores Export 2025 February?

Peru's February 2025 export of precious metal ores declined sharply by 27% in value and 23% in volume compared to January, likely due to seasonal mining disruptions or maintenance cycles.

Q2. Who are the main partner countries in this Peru Precious metal ores Export 2025 February?

China dominates with 95.12% of shipment frequency and 98.29% of value, while India holds a smaller share but pays a higher unit price.

Q3. Why does the unit price differ across Peru Precious metal ores Export 2025 February partner countries?

China's lower unit price ($2.19/kg) reflects bulk, lower-grade ore purchases, while India's higher price ($4.72/kg) suggests demand for higher-quality or specialized ores.

Q4. What should exporters in Peru focus on in the current Precious metal ores export market?

Exporters must prioritize long-term contracts with dominant high-volume buyers (96.62% of value) while exploring diversification to mitigate reliance on China.

Q5. What does this Peru Precious metal ores export pattern mean for buyers in partner countries?

Chinese buyers benefit from stable bulk supply at competitive prices, while Indian buyers access niche, higher-value ores, though both face limited supplier diversification.

Q6. How is Precious metal ores typically used in this trade flow?

The exports consist solely of raw, unrefined ores in bulk form, destined for smelting or refining into higher-value metals.