About HS Code 261690
This category encompasses ores and concentrates of precious metals other than silver, primarily including gold and the platinum group metals (PGMs) such as platinum, palladium, and rhodium. These high-value commodities are vital for a wide array of industries, including jewelry, automotive catalysts, electronics, and investment. Trade in these concentrates is highly specialized, involving major mining corporations and sophisticated refining operations. Exporters are typically countries with significant geological deposits of these metals, while importers are nations with advanced industrial sectors and refining infrastructure. Geopolitical stability in mining regions, global economic conditions, and technological advancements in applications heavily influence the trade dynamics and pricing of these strategically important materials.
Products Under This Code
Gold ore, platinum concentrate, palladium ore, rhodium concentrate, iridium ore, osmium concentrate, ruthenium concentrate, native gold concentrate
Real World Examples
Barrick Gold (Canada), Newmont Corporation (USA), Anglo American Platinum (South Africa), Norilsk Nickel (Russia), Sibanye-Stillwater (South Africa)
Common Misclassification
Often confused with 7108 (unwrought gold) or 7110 (unwrought platinum) if the material has undergone significant refining, but 261690 is strictly for raw ores and concentrates.
Products Classified Under 2616.90
Industry
This code belongs to the Minerals & Fuels industry.
Trade Overview
Major exporters are South Africa, Russia, and Canada, with Switzerland, China, and the USA being key importers.
Frequently Asked Questions
What is HS code 261690?
HS code 261690 covers: Precious metal ores and concentrates; (excluding silver). This category encompasses ores and concentrates of precious metals other than silver, primarily including gold and the platinum group metals (PGMs) such as platinum, palladium, and rhodium. These high-value commodities are vital for a wide array of industries, including jewelry, automotive catalysts, electronics, and investment. Trade in these concentrates is highly specialized, involving major mining corporations and sophisticated refining operations. Exporters are typically countries with significant geological deposits of these metals, while importers are nations with advanced industrial sectors and refining infrastructure. Geopolitical stability in mining regions, global economic conditions, and technological advancements in applications heavily influence the trade dynamics and pricing of these strategically important materials.
What products fall under HS code 261690?
Gold ore, platinum concentrate, palladium ore, rhodium concentrate, iridium ore, osmium concentrate, ruthenium concentrate, native gold concentrate
What are common misclassifications for HS code 261690?
Often confused with 7108 (unwrought gold) or 7110 (unwrought platinum) if the material has undergone significant refining, but 261690 is strictly for raw ores and concentrates.
How is HS code 261690 structured?
HS code 261690 is a 6-digit subheading under the Harmonized System. The first 2 digits (26) identify the chapter, digits 3-4 (16) identify the heading, and digits 5-6 (90) specify the subheading. This code is standardized globally by the World Customs Organization.