Peru Silver Ores HS261610 Export Data 2025 Q2 Overview

Peru Silver Ores (HS 261610) 2025 Q2 Export: Key Takeaways

Peru's Silver Ores (HS Code 261610) exports in Q2 2025 reveal a market dominated by China, which accounted for 98.8% of volume but at lower unit prices, indicating bulk purchases of lower-grade ores. Secondary buyers like South Korea and Europe paid premium prices, suggesting niche demand for higher-quality silver. The export landscape is highly concentrated, with China's overwhelming share creating supply chain risks. This analysis, based on cleanly processed Customs data from the yTrade database, highlights the need for Peru to balance its reliance on China while exploring higher-value markets.

Peru Silver Ores (HS 261610) 2025 Q2 Export Background

What is HS Code 261610?

HS Code 261610 refers to silver ores and concentrates, a critical raw material primarily used in jewelry, electronics, and industrial applications. Global demand remains stable due to silver's dual role as a precious metal and an industrial component. Peru, a top global silver producer, relies heavily on exports under this code to meet international market needs.

Current Context and Strategic Position

The US reciprocal tariff policy, effective April 2025, imposes a 10% baseline tariff on most Peruvian exports, including non-exempt mining products [theboardiQ]. While HS Code 261610 is not explicitly exempt, its strategic importance to Peru's mining sector underscores the need for market vigilance. Peru's dominance in silver ore production positions it as a key player in 2025 Q2 exports, but tariff-driven cost increases could impact competitiveness. Monitoring policy shifts and demand trends is essential for stakeholders in the Peru Silver Ores HS Code 261610 Export flow.

Peru Silver Ores (HS 261610) 2025 Q2 Export: Trend Summary

Key Observations

In Q2 2025, Peru's exports of Silver Ores under HS Code 261610 surged to approximately 1050.83 million USD in value and 517.13 million kg in volume, marking a robust quarter for the commodity.

Price and Volume Dynamics

The Q2 performance showed a significant quarter-over-quarter increase, with value rising about 61% and volume up 33% from Q1. This growth aligns with typical mining export cycles, where Q2 often sees heightened activity due to improved operational conditions and seasonal demand for raw materials. However, the sharp spike in May, with value peaking at 428.47 million USD, suggests deviations from normal patterns, potentially driven by external policy shifts rather than purely industrial factors.

External Context and Outlook

The volatility in exports can be partly attributed to the US-imposed reciprocal tariffs effective from April 2025, as reported by [EY Tax News], which likely prompted Peruvian exporters to accelerate shipments to avoid higher costs. Looking ahead, continued trade policy uncertainties may sustain fluctuations in Peru Silver Ores HS Code 261610 Export 2025 Q2 trends, influencing both pricing and volume dynamics in the global market.

Peru Silver Ores (HS 261610) 2025 Q2 Export: HS Code Breakdown

Product Specialization and Concentration

According to yTrade data, Peru's export of Silver Ores under HS Code 261610 in 2025 Q2 is entirely concentrated in Silver ores and concentrates, with a unit price of 2.03 USD per kilogram. This single product accounts for all export value, weight, and frequency, showing complete market specialization without any anomalous entries.

Value-Chain Structure and Grade Analysis

The absence of other sub-codes under HS Code 261610 indicates a simple, undifferentiated structure focused solely on raw Silver ores and concentrates. This suggests a trade in fungible bulk commodities, where products are standardized and likely priced against global indices, with no significant value-add stages or quality grades present.

Strategic Implication and Pricing Power

As a bulk commodity, Peru's Silver Ores export under HS Code 261610 faces limited pricing power, dependent on international market demand and indices. The potential impact of US reciprocal tariffs, which may apply to this product, could increase export costs and reduce competitiveness [theboardiQ], emphasizing the need for cost management and market diversification strategies.

Check Detailed HS 261610 Breakdown

Peru Silver Ores (HS 261610) 2025 Q2 Export: Market Concentration

Geographic Concentration and Dominant Role

In Q2 2025, Peru's Silver Ores HS Code 261610 exports were overwhelmingly dominated by China, which accounted for 98.81% of the weight but only 94.64% of the value. This disparity indicates a lower unit price of approximately 1.95 USD per kilogram for exports to China, suggesting that China primarily purchases lower-grade ores in bulk for large-scale processing.

Partner Countries Clusters and Underlying Causes

The export partners cluster into three groups: China as the massive bulk buyer, South Korea as a secondary market with a higher unit price around 9.33 USD per kilogram likely for industrial uses like electronics, and minor European buyers such as Sweden and Belgium with even higher unit prices possibly for specialized, high-purity applications. China's role stems from its extensive manufacturing base demanding raw materials, while South Korea and Europe reflect niche needs for specific silver qualities.

Forward Strategy and Supply Chain Implications

Peru should maintain its strong supply chain with China but explore diversifying into higher-grade markets to reduce reliance. Although the US is not a current top partner, broader trade tensions including US reciprocal tariffs noted by [theboardiQ] could impact future export strategies, urging vigilance in trade policy monitoring for Peru Silver Ores HS Code 261610 Export 2025 Q2.

Table: Peru Silver Ores (HS 261610) Top Partner Countries (Source: yTrade)

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Peru Silver Ores (HS 261610) 2025 Q2 Export: Buyer Cluster

Buyer Market Concentration and Dominance

In Q2 2025, the buyer market for Peru Silver Ores Export under HS Code 261610 is highly concentrated, with one segment of buyers dominating the trade. According to yTrade data, buyers who make frequent and high-value purchases account for 80.94% of the total export value, indicating that the market is driven by regular, large-scale transactions. This segment also handles 76.06% of the quantity, showing that the four segments of buyers are skewed towards a few key players who consistently engage in bulk trade.

Strategic Buyer Clusters and Trade Role

The other buyer segments play supporting roles. Buyers who make infrequent but high-value purchases represent a smaller share, likely involved in spot deals or specific large orders. Those with frequent but low-value purchases may include smaller processors or local traders handling smaller lots. The segment with infrequent and low-value purchases consists of occasional buyers, possibly new entrants or niche market participants, contributing minimally to overall trade.

Sales Strategy and Vulnerability

For Peruvian exporters, the strategy should focus on nurturing relationships with the dominant bulk buyers to ensure stable revenue, while cautiously exploring diversification to reduce reliance. The high concentration poses a risk if key buyers shift demand, and the recent US reciprocal tariffs of 10% [theboardiQ] could increase export costs, adding pressure on competitiveness. This calls for cost management and potential tariff mitigation strategies in sales models.

Table: Peru Silver Ores (HS 261610) Key Buyer Companies (Source: yTrade)

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Peru Silver Ores (HS 261610) 2025 Q2 Export: Action Plan for Silver Ores Market Expansion

Strategic Supply Chain Overview

The Peru Silver Ores Export 2025 Q2 under HS Code 261610 operates as a bulk commodity market. Price is driven by global silver indices and ore grade differentials. China's dominance as a bulk buyer creates a low-price dependency. This results in a supply chain focused on high-volume, low-margin exports with limited pricing power. The recent US reciprocal tariffs add cost pressure and competitiveness risks.

Action Plan: Data-Driven Steps for Silver Ores Market Execution

• Use unit price data to target South Korea and European buyers for higher-grade shipments. This captures premium pricing and reduces reliance on China.
• Analyze buyer frequency patterns to negotiate long-term contracts with high-volume partners. This ensures stable revenue and reduces market volatility.
• Monitor global silver price indices monthly to time export shipments. This maximizes returns during price peaks.
• Develop a tariff mitigation strategy using trade agreement data. This lowers export costs under new US tariffs.
• Track emerging buyers in minor markets for gradual diversification. This builds resilience against demand shocks in primary markets.

Take Action Now —— Explore Peru Silver Ores Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Peru Silver Ores Export 2025 Q2?

The surge in Q2 exports (61% value increase, 33% volume rise) is driven by seasonal mining activity and accelerated shipments to avoid US reciprocal tariffs effective April 2025.

Q2. Who are the main partner countries in this Peru Silver Ores Export 2025 Q2?

China dominates with 98.81% of volume and 94.64% of value, followed by South Korea and minor European buyers like Sweden and Belgium.

Q3. Why does the unit price differ across Peru Silver Ores Export 2025 Q2 partner countries?

China’s bulk purchases of lower-grade ores average 1.95 USD/kg, while South Korea pays 9.33 USD/kg for industrial uses, and European buyers likely target high-purity applications.

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

Exporters must nurture relationships with dominant bulk buyers (80.94% of value) while diversifying into higher-grade markets to reduce reliance on China.

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

Chinese buyers benefit from stable bulk supply at lower costs, while niche buyers (e.g., South Korea, Europe) access specialized grades but face limited supply options.

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

Peru’s exports are raw Silver ores and concentrates, primarily for bulk processing in manufacturing (China) or niche industrial/electronic applications (South Korea/Europe).

Detailed Monthly Report

Peru HS261610 Export Snapshot 2025 APR

Peru HS261610 Export Snapshot 2025 MAY

Peru HS261610 Export Snapshot 2025 JUN