Barite export is not a source of foreign exchange
China sells its barite (natural barium sulfate) resources at an average price of over $30 per ton, but after processing, these materials are resold internationally for more than $1,000 per ton. Despite holding the world's largest reserves and having a strong position in the global market, China has been exporting raw barite at low prices without adequate processing, leading to significant loss of this valuable and non-renewable resource.
Barite is a crucial mineral used in various industries, including oil and gas drilling, where it serves as a weighting agent in drilling mud, as well as in pigments, paints, and chemical production. With the ongoing growth in the international oil sector, demand for barite has surged, creating a high-growth market globally.
China holds the world’s largest barite reserves, estimated at 360 million tons. However, according to data from Fujian Customs, current reserves are expected to last only 50 to 70 years if exploited at the current rate. To protect these resources, the Chinese government has implemented stricter export controls. In 2004, the export tax rebate was reduced from 17% to 5%, and in 2006, it was completely eliminated. Despite these measures, barite exports continued to rise sharply—by 10.4% in 2004, 28.5% in 2005, and 16.7% in 2006.
In recent years, China’s annual barite exports have remained above 3 million tons, while global trade volume is around 4.5 million tons annually. This means that China accounts for a large portion of the world’s supply. Yet, despite its dominance in reserves, China lacks influence in pricing due to the lack of value-added processing. Many small-scale enterprises prioritize short-term profits over long-term sustainability, using outdated technology and avoiding investment in advanced processing methods.
As a result, China continues to export vast quantities of raw barite at low prices. For example, in the first half of this year, Fujian, the country’s second-largest barite exporter, shipped 236,000 tons—an increase of 6.9% compared to the same period last year—but at an average price of just $38.74 per ton. Meanwhile, processed barium sulfate products on the international market can fetch over $1,000 per ton. This gap highlights the missed opportunity for China to gain greater control over the global barite market through higher-value processing and innovation.
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