All posts tagged: Peru

Peru’s Zinc Chain: A Stronger Role for Zinc Concentrate

Zinc Concentrate played a stronger and more consistent role in Peru’s Zinc export chain than in Australia’s, leading in more quarters and averaging a significantly higher share (67.7% vs. 53.7%). Despite two shifts in relative position, its dominance in Peru remained clear over the period.

Between 2022-Q3 and 2025-Q2, the total Zinc export value of Peru and Australia followed a very similar path. Both experienced a slight downward trend with low volatility in the initial and early middle periods, followed by a slight upward trend with low volatility in the later periods. Overall volatility for both countries was limited. Peru’s final-quarter figure was unexpected, while Australia’s was not. Over the full period, Peru grew at a compound rate of 0.5%, reaching about USD 817,000 in 2025-Q2, while Australia grew at 0.9%, reaching nearly USD 801,000. The two series show a moderate correlation and generally moved in the same direction. In 2025-Q2, Peru and Australia recorded year-on-year growth rates of 32.0% and 25.8%, respectively.

khorasaniPeru’s Zinc Chain: A Stronger Role for Zinc Concentrate
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Peru Keeps Copper Concentrate on Top

Copper Concentrate played a more prominent and influential role in Peru’s upstream copper exports than in Chile, consistently holding a higher position and representing a larger share throughout 2022-Q2 to 2025-Q1.

Between 2022-Q2 and 2025-Q1, the export values of the Upstream Copper Industry in Peru and Chile showed a moderate and positive correlation, meaning they generally moved in the same direction. Volatility for both countries remained limited, indicating relatively stable export performance. Peru’s exports followed mostly slight upward trends with low volatility, except for a brief slight decline in the late middle period, before rising again toward the end. Chile started with a slight downward trend, but then maintained slight upward trends with low volatility through most of the period. By 2025-Q1, Peru’s export value reached about USD 6.61 million, growing 23.9% year-on-year, while Chile’s exports rose to around USD 12.6 million, up 16.8% year-on-year. Over the whole period, Peru recorded a higher compound growth rate (3.0%) than Chile (0.2%), despite Chile’s consistently larger export value.

khorasaniPeru Keeps Copper Concentrate on Top
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Peru’s Metals Export: Copper on Top

Copper Concentrate has clearly led Peru’s upstream metals exports, consistently outperforming Zinc Concentrate with an 87.6% share versus zinc’s 68.6%, showing its dominant and steady role over the analyzed period.

From 2022-Q2 to 2025-Q1, Peru’s Upstream Copper Industry exports grew steadily, reaching about 6.61 million USD in 2025-Q1, while Upstream Zinc Industry exports rose more modestly to around 635,000 USD. Copper exports hit their lowest at 4.79 million USD and highest at 6.61 million USD, showing minor ups and downs across the period. Zinc exports fluctuated between 548,000 USD and 787,000 USD, starting with slight decreases and finishing with modest rises. The overall growth rate was 3.0% for copper but -1.9% for zinc. Correlation between the two was weak and inverse, with both showing limited volatility. Copper consistently outperformed zinc, highlighting a clear gap in export performance.

khorasaniPeru’s Metals Export: Copper on Top
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Importance of changes in the global copper price on Chile and Peru economy

The growth of the concentrate price in 2021

11% of Chile’s GDP and 10% of Peru’s GDP are related to the extraction of mineral metal; among all these metals, copper is known as the crucial one in these two countries. As a consequence, copper accounts an important metal for the countries’ economies.

In view of the increase in the global copper price in 2021, Chile’s concentrate and cathode experienced an increase in their export price which respectively was 33.9% and 34%, and this increase was about 35% and 32.6% for Peru’s concentrate and cathode.

ata_khaliliImportance of changes in the global copper price on Chile and Peru economy
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