HS Code:
Niobium ores and concentrates, classified under HS Code 2615.90, are raw materials primarily used in the production of niobium metal and alloys. Niobium, also known as columbium, is a critical element in the manufacturing of high-strength, low-alloy steels, superconductors, and advanced materials for aerospace and electronics industries. The trade of niobium ores is highly concentrated due to limited geographic availability, with significant deposits found in specific regions like South America and Africa. The category includes unprocessed ores and partially processed concentrates ready for further refining.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$800 million USD
66.7% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Increasing
$50 million USD
4.2% of total trade of total trade
Increasing
$30 million USD
2.5% of total trade of total trade
Stable
Average Rate
3.5% ad valorem
Highest Rate
8% (imposed by certain Asian markets)
Lowest Rate
0% (under free trade agreements like USMCA and EU-Africa partnerships)
Growing demand for niobium in green technologies
Increased demand due to niobium’s use in lightweight materials for electric vehicles and renewable energy infrastructure
2021-2023
Supply chain diversification efforts
Countries like the US and EU are seeking alternative suppliers outside Brazil to reduce dependency and mitigate geopolitical risks
2020-2022
Rising prices due to supply constraints
Limited new mining projects and stricter environmental regulations have led to a 15% price increase for niobium concentrates
2022
The Brazilian government raised export quotas for niobium ores in response to global demand, while ensuring domestic steel industries are prioritized.
March 2023
Expected to stabilize global supply and potentially lower prices by 5-10% in the short term.
Rwanda implemented stricter certification processes for niobium and tantalum exports to combat illegal mining and ensure conflict-free sourcing.
January 2023
May temporarily reduce export volumes but enhance credibility and attract ethical buyers.
The United States included niobium in its updated critical minerals list, offering incentives for domestic exploration and partnerships with allied nations.
June 2022
Likely to spur investment in North American niobium projects and reduce reliance on single-source imports.