Peru Unwrought Silver HS710691 Export Data 2025 March Overview

Peru Unwrought Silver (HS 710691) 2025 March Export: Key Takeaways

Peru's Unwrought Silver (HS Code 710691) exports in March 2025 reveal Switzerland as the dominant buyer, accounting for 37.99% of export value and paying a premium for high-grade silver, reflecting its role as a global refining hub. The market shows high buyer concentration, with Switzerland, Brazil, and the U.S. forming a high-value cluster, while the UAE acts as a trade hub for redistribution. This analysis, covering March 2025, is based on cleanly processed Customs data from the yTrade database.

Peru Unwrought Silver (HS 710691) 2025 March Export Background

What is HS Code 710691?

HS Code 710691 refers to silver, unwrought, excluding powder forms. This product is a critical raw material used in industries such as electronics, jewelry, and solar panel manufacturing due to its high conductivity and reflectivity. Global demand remains stable, driven by its essential role in industrial applications and as a store of value. Peru, a top global exporter of unwrought silver, leverages its significant mining output to supply this commodity under HS Code 710691 [World Bank].

Current Context and Strategic Position

As of March 2025, Peru’s unwrought silver exports under HS Code 710691 show no newly reported policy changes or export restrictions [OECD]. The country remains the 23rd largest global exporter, with 2023 exports valued at $251 million, primarily to markets like Spain [OEC]. Peru’s strategic position is bolstered by its mining infrastructure and trade agreements, such as the US-Peru FTA, which maintains stable access for silver exports [WTO]. Market vigilance is essential, however, given the commodity’s sensitivity to global price fluctuations and industrial demand shifts.

Peru Unwrought Silver (HS 710691) 2025 March Export: Trend Summary

Key Observations

In March 2025, Peru's exports of Unwrought Silver under HS Code 710691 totaled 39.00 million USD in value with a volume of 35.09 thousand kg, marking a solid contribution to the country's export portfolio for the period.

Price and Volume Dynamics

The month-over-month comparison shows a 7.3% decrease in value from February's 42.05 million USD, while volume rose by 10.8% to 35.09 thousand kg, indicating a potential softening in silver prices or a shift toward bulk shipments. This volatility is typical for silver markets, where Q1 often sees fluctuating demand from industrial sectors like electronics and jewelry, driving inventory adjustments. Year-over-year, while specific 2024 data is unavailable, the overall growth in early 2025 aligns with Peru's historical export strength, supported by steady mining output and global commodity cycles.

External Context and Outlook

Peru's position as a significant silver exporter is reinforced by 2023 data showing $251 million in exports [OEC], with no new policy restrictions reported for March 2025 (OEC). The outlook remains influenced by broader economic factors, including global silver price trends and demand from key industries, ensuring continued stability in Peru's Unwrought Silver HS Code 710691 Export activities for 2025.

Peru Unwrought Silver (HS 710691) 2025 March Export: HS Code Breakdown

Product Specialization and Concentration

The Peru Unwrought Silver HS Code 710691 Export for March 2025 is dominated by sub-code 7106911000, which accounts for 58.70 percent of the total export value. This sub-code, described as unwrought silver excluding powder, has a unit price of 1039.79 USD per kilogram. According to yTrade data, the presence of a second sub-code (7106912000) with a higher unit price of 1231.76 USD per kg indicates a specialized segment, likely due to quality or processing differences, though no extreme price anomaly is isolated.

Value-Chain Structure and Grade Analysis

The sub-codes under HS 710691 can be grouped into two categories based on unit price: a standard unwrought silver (7106911000) and a higher-priced variant (7106912000). This structure suggests that while unwrought silver is primarily a fungible commodity traded on weight, the 18.5 percent price difference points to potential grade-based differentiation, such as purity levels, rather than a shift to manufactured goods.

Strategic Implication and Pricing Power

For exporters, the grade differentiation allows for targeted strategies where higher-grade silver (7106912000) may command premium pricing, enhancing profitability. The bulk trade remains tied to global silver indices, limiting pricing power for standard grades. The stable export environment, with no recent policy changes [World Bank], supports focused efforts on quality control and market segmentation for Peru's silver exports in 2025.

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Peru Unwrought Silver (HS 710691) 2025 March Export: Market Concentration

Geographic Concentration and Dominant Role

Peru's Unwrought Silver HS Code 710691 exports in March 2025 are highly concentrated, with Switzerland as the dominant importer by value, accounting for 37.99% of total export value. The value ratio of 37.99 exceeds the weight ratio of 33.61, indicating that Switzerland pays a premium price per kilogram, likely for higher-grade silver, which aligns with its role as a global banking and refining hub for precious metals.

Partner Countries Clusters and Underlying Causes

The top importers form two clear clusters: first, high-value buyers like Switzerland, Brazil, and the United States, which may source silver for refining or industrial use due to their established financial and manufacturing sectors. Second, frequent but lower-value importers such as the United Arab Emirates, with a high shipment frequency but lower value share, suggest a role as a trade hub for redistribution or speculative trading, common in commodity markets like silver.

Forward Strategy and Supply Chain Implications

For Peru, maintaining relationships with high-value markets like Switzerland is crucial to capitalize on premium pricing, while diversifying to mitigate reliance on few buyers. Supply chain stability is key, as silver is a volatile commodity; historical data shows Peru as a significant exporter [OEC], so monitoring trade policies for any changes is advised to avoid disruptions.

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Peru Unwrought Silver (HS 710691) 2025 March Export: Buyer Cluster

Buyer Market Concentration and Dominance

The buyer market for Peru Unwrought Silver Export 2025 March under HS Code 710691 is sharply concentrated, with one group of buyers accounting for over 95% of the total export value, based on yTrade data. This dominant segment consists of large-scale, infrequent purchasers, highlighting a market where a few key players drive most of the trade. The overall market is split into four segments of buyers, with median activity skewed towards high-value, low-frequency transactions, indicating that bulk sales to major entities define the export landscape for this commodity.

Strategic Buyer Clusters and Trade Role

The other buyer groups play smaller but distinct roles. Regular high-value buyers engage in frequent purchases but contribute minimally to total value, likely representing established traders or processors who buy consistently in moderate amounts. Small, frequent buyers make up over half of the transaction volume but add little value, suggesting they are local or niche distributors handling smaller lots. Lastly, very infrequent, low-value buyers are almost negligible, possibly involving one-off or experimental purchases that have minimal impact on the market.

Sales Strategy and Vulnerability

For Peruvian exporters, the strategy must prioritize nurturing relationships with the dominant large buyers to secure stable revenue, but this reliance creates vulnerability to demand shifts from these few clients. Diversifying into the smaller, frequent buyer segments could mitigate risk and tap into steady, though lower-value, streams. The absence of new export restrictions or policy changes in March 2025, as noted in World Bank Trade Data, supports a focus on maintaining current sales models without immediate external threats.

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Peru Unwrought Silver (HS 710691) 2025 March Export: Action Plan for Unwrought Silver Market Expansion

Strategic Supply Chain Overview

The Peru Unwrought Silver Export 2025 March under HS Code 710691 operates as a classic commodity market. Price is primarily driven by two factors: global silver index fluctuations for standard grades (sub-code 7106911000), and quality-based premiums for higher purity variants (7106912000) that command +18.5% value. Geopolitical stability and Switzerland’s refining hub role further influence premiums. Supply chain implications for Peru center on supply security and processing hub dependency—reliance on few bulk buyers (over 95% value concentration) creates vulnerability to demand shifts, while Switzerland’s premium payments highlight the value of grade differentiation.

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

• Track and report sub-code unit prices monthly to isolate premium-grade (7106912000) transactions and target buyers paying above index rates, maximizing margin capture from quality differentiation.
• Analyze shipment frequency of top Swiss and Brazilian importers to anticipate bulk order cycles and align production schedules, avoiding inventory overstock during low-demand periods.
• Engage smaller, frequent buyers in UAE and US with tailored lot offers to diversify the client base and reduce reliance on dominant bulk purchasers, stabilizing revenue streams.
• Monitor World Bank trade policy updates for HS Code 710691 to preempt any regulatory changes that could disrupt export flows or alter tariff conditions, securing supply chain continuity.

Take Action Now —— Explore Peru Unwrought Silver Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Peru Unwrought Silver Export 2025 March?

Peru's March 2025 exports saw a 7.3% value drop despite a 10.8% volume rise, reflecting potential silver price softening or a shift toward bulk shipments, typical for Q1 industrial demand fluctuations.

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

Switzerland dominates with 37.99% of export value, followed by Brazil and the United States, forming a high-value cluster, while the UAE acts as a frequent but lower-value trade hub.

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

The 18.5% price gap stems from grade differentiation: standard unwrought silver (7106911000 at 1039.79 USD/kg) versus a premium variant (7106912000 at 1231.76 USD/kg), likely tied to purity levels.

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

Exporters must prioritize relationships with dominant large buyers (95% of value) while diversifying into smaller, frequent segments to reduce reliance on bulk sales and mitigate demand risks.

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

High-value buyers like Switzerland secure premium-grade silver, while frequent traders (e.g., UAE) access smaller lots, offering redistribution opportunities but limited pricing leverage due to market concentration.

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

Unwrought silver serves as a raw material for refining, industrial applications (e.g., electronics), or financial hedging, with bulk grades tied to global indices and premium grades commanding niche-market premiums.