HS Code:
The 'Of strontium' category, typically classified under HS Code 2805.19 (which includes alkali or alkaline-earth metals like strontium), pertains to strontium in various forms, including strontium metal, strontium oxide, and strontium carbonate. Strontium is a soft, silvery metal used in multiple industrial applications such as in the production of cathode ray tubes for televisions, pyrotechnics (for red color in fireworks), and as a component in certain alloys. It also finds use in medical applications, particularly in the form of strontium ranelate for osteoporosis treatment, and in nuclear applications due to its radioactive isotopes. Global trade in strontium is relatively niche but critical for specific industries, with supply chains often influenced by mining output, geopolitical factors, and environmental regulations.
Total Trade Volume
Approximately $50 million USD
Data from 2022
Source
UN Comtrade Database, International Trade Centre (ITC)
$20 million USD
40% of total trade of total trade
Increasing
$10 million USD
20% of total trade of total trade
Stable
$8 million USD
16% of total trade of total trade
Increasing
$5 million USD
10% of total trade of total trade
Stable
$3 million USD
6% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
12% (applied by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Increasing demand for strontium in medical applications
Growth in pharmaceutical use, particularly for osteoporosis drugs, has boosted trade volumes by 10% annually in key markets.
2021-2022
Shift towards sustainable mining practices
Stricter environmental regulations in China have reduced output temporarily, causing a 5% price increase globally.
2020-2022
Declining use in cathode ray tube production
As CRT technology becomes obsolete, demand in electronics has dropped by 15%, affecting overall trade volume.
2018-2022
China imposed tighter export controls on strontium carbonate to prioritize domestic industrial needs and comply with environmental targets.
March 2023
Global prices rose by 8%, with importers seeking alternative suppliers in Mexico and Spain.
The European Union allocated €5 million for research into strontium-based treatments for bone diseases, boosting demand projections.
July 2023
Expected to increase import demand in the EU by 12% over the next five years.
Under the USMCA, tariffs on strontium imports from Mexico to the US were reduced to 0%, enhancing bilateral trade.
January 2023
Trade volume between the two countries increased by 15% in the first half of 2023.