Export and Transformation

In recent years, the export situation of China’s pyrite has shown certain changes and characteristics, as detailed below:

Export Volume Growth

• In 2024, China’s pyrite exports to Vietnam increased by 42% year-on-year, with the Southeast Asian market emerging as a new channel to absorb domestic excess capacity.
• In 2025, China’s total pyrite export volume reached 6.2 million tons, a year-on-year growth of 45.3%, among which the proportion of exports to the Southeast Asian market rose to 38.6%.

Diversification of Export Markets

• China’s pyrite is mainly exported to regions such as Asia, Europe, and the Americas.
• In recent years, some low-grade ores have also been exported to regions like Southeast Asia and Africa.

Significant Impact of Trade Policies

• Under the RCEP framework, the import tariff on pyrite in Southeast Asia has been reduced to 3.8%, which has promoted China’s pyrite exports to this region.
• However, the EU’s Carbon Border Adjustment Mechanism (CBAM) will impose an implicit carbon emission tax of 12 euros per ton on imported pyrite starting from 2026. This will increase the cost of Chinese products exported to Europe by 8%-10%, potentially having an adverse impact on exports to the European market.

Challenges Brought by Industrial Chain Transfer

• Southeast Asian countries such as Vietnam and Indonesia have built regional supply chains through RCEP tariff reduction policies. They import pyrite from China, process it into sulfuric acid, and then re-export it to China.
• The scale of such “roundabout trade” exceeded 800,000 tons in 2024, weakening the direct export competitiveness of China’s raw ores.

In order to cope with the increasingly demanding and diverse international market, our company will actively face challenges and difficulties. By combining its own advantages with relevant incentive policies, it will transform from “scale expansion” to “quality improvement”, enhance quality, adopt green production methods, concentrate its strengths, ensure quality, and at the same time provide the best services to foreign importers.