Where do the world's metals come from?

Metals covers aluminum, antimony, arsenic, barite, bauxite, beryllium, bismuth, boron, chromium, cobalt, copper, feldspar, fluorspar, gallium, gold, graphite, helium, indium, iridium, iron ore, lead, lithium, magnesium, manganese, molybdenum, nickel, niobium, palladium, platinum, rare earths, rhenium, rhodium, silicon, silver, steel, strontium, tantalum, tellurium, tin, titanium, tungsten, vanadium, zinc, zirconium. What moves them together: Chinese industrial demand, smelting and refining concentration, mine disruptions and strikes, the energy transition, the US dollar and interest rates.

What stands out across metals?

Among the 40 commodities in metals with a production ranking, supply is most concentrated in gallium, where China produced 99% of the world total in 2025, and least concentrated in gold, where the largest producer, China, produced 12% in 2025. China is the largest producer of 20 of the 40. In 17 of them the largest producer is not the largest exporter by value, as for aluminum, where China produced 61% and Canada led exports of unwrought aluminum (HS 7601) with 10%. Production years differ by commodity and sources are FAOSTAT, USGS or the Energy Institute; exports are CEPII BACI trade records.

In the twelve months to September 2026, 12 of 14 priced commodities in this category had a higher benchmark price, with the largest rise for lithium (+82%) and the largest fall for iron ore (-5.4%). These are monthly benchmark series in their own units, from the World Bank Pink Sheet, IMF or other sources named on each price page, and a twelve-month change says nothing about what comes next.

Commodities in this category

Metals commodities with top producers and latest prices
Commodity	Top producers	Latest price	12 months
Aluminum A light metal smelted from alumina, which is refined from bauxite ore; the chain runs mine (bauxite) to refinery (alumina) to smelter (metal).	Share of world aluminum production: China 61%, India 5.7%, Russia 5.3%, Rest of world 28%. China 61%, India 6%, Russia 5% (2025)	$3,283/t LME cash, high grade	+24%
Antimony A brittle silvery metalloid mined from stibnite, used mainly as antimony trioxide in flame retardants and to harden lead in batteries and ammunition.	Share of world antimony production: China 36%, Russia 29%, Tajikistan 20%, Rest of world 15%. China 36%, Russia 29%, Tajikistan 20% (2025)	—	—
Arsenic An element that USGS reports as arsenic trioxide, obtained mainly as a by-product of processing other ores, and used in wood preservatives, pesticides, alloys and, as high-purity metal, in semiconductors.	Share of world arsenic production: Peru 49%, China 39%, Morocco 8.2%, Rest of world 3.3%. Peru 49%, China 39%, Morocco 8% (2025)	—	—
Barite A dense, heavy barium sulfate mineral, ground and used mostly as a weighting agent in the drilling muds of oil and gas wells.	Share of world barite production: India 34%, China 25%, Morocco 11%, Rest of world 29%. India 34%, China 25%, Morocco 11% (2025)	—	—
Bauxite The ore of aluminum: a tropical weathering product refined into alumina, which is then smelted into metal.	Share of world bauxite production: Guinea 34%, Australia 22%, China 20%, Rest of world 24%. Guinea 34%, Australia 22%, China 20% (2025)	—	—
Beryllium A light, stiff metal mined from the minerals bertrandite and beryl and used mainly as beryllium-copper alloys and in aerospace, defense and electronics parts.	Share of world beryllium production: United States 53%, Brazil 19%, China 18%, Rest of world 10%. United States 53%, Brazil 19%, China 18% (2025)	—	—
Bismuth A heavy, low-melting metal recovered mostly as a by-product of processing lead, tungsten and zinc ores and used in pharmaceuticals, cosmetics, alloys and as a replacement for lead.	Share of world bismuth production: China 86%, South Korea 6.1%, Japan 3.1%, Rest of world 4.8%. China 86%, South Korea 6%, Japan 3% (2025)	—	—
Boron An element used almost entirely as borates: mined as borate minerals such as tincal, kernite and colemanite, refined into borax and boric acid, and used in glass and fiberglass, ceramics, detergents, agriculture and, as boron compounds, in magnets and fire retardants.	No production table yet	—	—
Chromium The metal that makes stainless steel stainless, mined as chromite ore and smelted into ferrochrome.	Share of world chromium production: South Africa 45%, Turkey 18%, Kazakhstan 14%, Rest of world 24%. South Africa 45%, Turkey 18%, Kazakhstan 14% (2025)	—	—
Cobalt A metal recovered mostly as a by-product of copper and nickel mining, used in battery cathodes and superalloys.	Share of world cobalt production: DR Congo 74%, Indonesia 14%, Russia 2.5%, Rest of world 9.1%. DR Congo 74%, Indonesia 14%, Russia 2% (2025)	$55,854/t Cobalt, 99.8% minimum purity, LME spot	+70%
Copper A conductive red metal mined as ore, concentrated, smelted and refined into cathode for wiring, motors and pipes.	Share of world copper production: Chile 23%, DR Congo 14%, Peru 12%, Rest of world 51%. Chile 23%, DR Congo 14%, Peru 12% (2025)	$14,474/t LME cash, grade A cathode	+45%
Feldspar A group of common aluminum-silicate rock-forming minerals, mined and ground for glass, ceramics, tiles and fillers, where it supplies alumina and fluxes the melt.	Share of world feldspar production: India 19%, Turkey 17%, Iran 13%, Rest of world 51%. India 19%, Turkey 17%, Iran 13% (2025)	—	—
Fluorspar The mineral form of calcium fluoride, mined as acid-grade, ceramic and metallurgical grades and used to make hydrofluoric acid, the starting point of most fluorine chemistry.	Share of world fluorspar production: China 60%, Mongolia 15%, Mexico 15%, Rest of world 10%. China 60%, Mongolia 15%, Mexico 15% (2025)	—	—
Gallium A low-melting metal recovered as a by-product, mostly of processing bauxite in alumina refining and partly of zinc-processing residues, and used mainly in semiconductors, LEDs and integrated circuits.	Share of world gallium production: China 99%, Russia 0.7%, Japan 0.3%, Rest of world <0.1%. China 99%, Russia 1%, Japan 0% (2025)	—	—
Gold A precious metal mined from ore and recycled from jewellery, held as bars and coins by central banks and investors and worn as jewellery.	Share of world gold production: China 12%, Russia 9.4%, Australia 8.5%, Rest of world 71%. China 12%, Russia 9%, Australia 8% (2025)	$4,319/troy oz London PM fix	+18%
Graphite A crystalline form of carbon, mined as flake or amorphous ore and processed into battery anodes, refractories and lubricants.	Share of world graphite production: China 78%, Madagascar 4.4%, Tanzania 4.2%, Rest of world 14%. China 78%, Madagascar 4%, Tanzania 4% (2025)	—	—
Helium An inert gas recovered mainly from natural gas and used to cool magnets in scanners, in leak detection, in semiconductor manufacturing and for lifting and welding.	Share of world helium production: United States 43%, Qatar 33%, Russia 9.5%, Rest of world 15%. United States 43%, Qatar 33%, Russia 9% (2025)	—	—
Indium A soft metal recovered as a by-product of processing zinc ores and used mainly in indium tin oxide coatings for displays, in solders and in semiconductors.	Share of world indium production: China 69%, South Korea 16%, Japan 5.9%, Rest of world 8.6%. China 69%, South Korea 16%, Japan 6% (2025)	—	—
Iridium A very dense, corrosion-resistant platinum-group metal recovered with platinum from the same ores; ruthenium, a related platinum-group metal, travels under the same customs line, and the two are used in electronics, electrochemistry and spark plugs and other long-wearing contacts.	No production table yet	—	—
Iron ore Rock rich in iron oxides, mined in bulk and shipped to blast furnaces to make steel; the most traded dry-bulk cargo.	Share of world iron ore production: Australia 38%, Brazil 16%, India 12%, Rest of world 34%. Australia 38%, Brazil 16%, India 12% (2025)	$97.7/dmtu 62% Fe fines, CFR China spot	-5%
Lead A dense, soft metal used overwhelmingly in lead-acid batteries, and the most recycled of the base metals.	Share of world lead production: China 42%, Australia 11%, Peru 6.4%, Rest of world 41%. China 42%, Australia 11%, Peru 6% (2025)	$1,873/t LME cash	-4%
Lithium A light metal extracted from hard-rock spodumene or salt-lake brine and refined into carbonate, hydroxide or metal for battery cathodes.	Share of world lithium production: Australia 32%, China 21%, Chile 19%, Rest of world 28%. Australia 32%, China 21%, Chile 19% (2025)	$148,620/t Lithium metal, 99% battery grade	+82%
Magnesium The lightest structural metal, smelted from dolomite or brine and used to alloy aluminum, to make die-cast parts, and to remove sulfur in steelmaking.	Share of world magnesium production: China 86%, Russia 5.5%, Brazil 1.8%, Rest of world 6.4%. China 86%, Russia 5%, Brazil 2% (2025)	—	—
Manganese A metal used almost entirely in steelmaking, where it removes oxygen and sulfur and adds strength; also a battery cathode ingredient.	Share of world manganese production: South Africa 38%, Gabon 25%, Ghana 10%, Rest of world 27%. South Africa 38%, Gabon 25%, Ghana 10% (2025)	$2,894/t Electrolytic manganese metal, CIF Northwest Europe	+38%
Molybdenum A refractory metal recovered mostly as a by-product of copper mining, added to steel for strength and corrosion resistance.	Share of world molybdenum production: China 37%, Chile 16%, United States 15%, Rest of world 31%. China 37%, Chile 16%, United States 15% (2025)	—	—
Nickel A corrosion-resistant metal used mostly in stainless steel and increasingly in battery cathodes.	Share of world nickel production: Indonesia 67%, Philippines 6.9%, Russia 5.1%, Rest of world 21%. Indonesia 67%, Philippines 7%, Russia 5% (2025)	$16,324/t LME cash	+8%
Niobium A soft grey metal, mined from pyrochlore and sold mostly as ferroniobium, that adds strength to steel in tiny proportions and is used in superalloys and superconducting magnets.	Share of world niobium production: Brazil 93%, Canada 5.4%, DR Congo 0.9%, Rest of world 0.9%. Brazil 93%, Canada 5%, DR Congo 1% (2025)	—	—
Palladium A precious metal used mainly in petrol-engine autocatalysts, mined with platinum and nickel.	Share of world palladium production: Russia 44%, South Africa 37%, Canada 8.4%, Rest of world 11%. Russia 44%, South Africa 37%, Canada 8% (2025)	$1,348/troy oz Palladium, spot	+19%
Platinum A precious metal used in autocatalysts, jewellery and industry, mined almost entirely from two geological complexes.	Share of world platinum production: South Africa 71%, Russia 12%, Zimbabwe 11%, Rest of world 7.1%. South Africa 71%, Russia 12%, Zimbabwe 11% (2025)	$1,784/troy oz London afternoon fix	+24%
Rare earths A group of seventeen chemically similar metals, mined together and separated at great cost, used in magnets, catalysts and phosphors.	Share of world rare earths production: China 69%, United States 13%, Australia 7.4%, Rest of world 10%. China 69%, United States 13%, Australia 7% (2025)	—	—
Rhenium A very dense, high-melting metal recovered as a by-product of molybdenum and copper processing and used mainly in nickel superalloys and in catalysts.	Share of world rhenium production: Chile 37%, China 25%, Poland 12%, Rest of world 26%. Chile 37%, China 25%, Poland 12% (2025)	—	—
Rhodium A rare, silver-white platinum-group metal recovered with platinum and palladium from the same ores and used mostly in the catalytic converters that clean vehicle exhaust.	No production table yet	—	—
Silicon Made by smelting quartz with carbon in electric furnaces, as silicon metal for aluminum alloys, silicones and, after further refining, solar cells and chips, and as ferrosilicon for steelmaking.	Share of world silicon production: China 87%, Brazil 3.9%, Norway 2.8%, Rest of world 6.3%. China 87%, Brazil 4%, Norway 3% (2025)	—	—
Silver A precious metal that is also an industrial one: most mined silver is a by-product of lead, zinc, copper and gold mines.	Share of world silver production: Mexico 24%, Peru 14%, China 13%, Rest of world 49%. Mexico 24%, Peru 14%, China 13% (2025)	$64.6/troy oz Handy & Harman, New York	+51%
Steel Iron alloyed with a little carbon, made in blast furnaces from iron ore or in electric arc furnaces from scrap; the most used metal on earth.	Share of world steel production: China 52%, India 8.4%, United States 4.3%, Rest of world 36%. China 52%, India 8%, United States 4% (2025)	—	—
Strontium An alkaline-earth element mined as the mineral celestite (strontium sulfate), used ground in drilling fluids and converted into compounds such as strontium carbonate for ferrite magnets, pyrotechnics, glass and ceramics.	Share of world strontium production: Iran 56%, Spain 22%, China 18%, Rest of world 4.4%. Iran 56%, Spain 22%, China 18% (2025)	—	—
Tantalum A dense, corrosion-resistant metal obtained mainly from tantalite ores, which are found with niobium, and used mainly in electronics, above all capacitors, and in alloys and chemicals.	Share of world tantalum production: DR Congo 52%, Rwanda 16%, Nigeria 16%, Rest of world 16%. DR Congo 52%, Rwanda 16%, Nigeria 16% (2025)	—	—
Tellurium A brittle semimetal recovered as a by-product of copper refining and used mainly in cadmium-telluride solar cells, in thermoelectric devices and in metallurgy.	Share of world tellurium production: China 80%, Russia 6.7%, Japan 6.1%, Rest of world 7.2%. China 80%, Russia 7%, Japan 6% (2025)	—	—
Tin A soft metal used mostly as solder in electronics, plus tinplate and chemicals; the smallest of the major base metals.	Share of world tin production: China 24%, Indonesia 21%, Peru 11%, Rest of world 43%. China 24%, Indonesia 21%, Peru 11% (2025)	$53,712/t LME cash	+56%
Titanium A strong, light and corrosion-resistant metal; this page covers the ilmenite and rutile sands and ores that are the source of both titanium metal and, mostly, white titanium dioxide pigment.	Share of world titanium production: China 34%, Mozambique 20%, South Africa 14%, Rest of world 32%. China 34%, Mozambique 20%, South Africa 14% (2025)	—	—
Tungsten A very dense metal with the highest melting point of any metal, mined from scheelite and wolframite and used in cemented carbide cutting tools, steel and electronics.	Share of world tungsten production: China 79%, Vietnam 3.5%, Kazakhstan 2.8%, Rest of world 15%. China 79%, Vietnam 4%, Kazakhstan 3% (2025)	—	—
Vanadium A hard grey metal recovered from magnetite ores, steel slag and other residues, used mostly to strengthen steel and increasingly in large flow batteries.	Share of world vanadium production: China 72%, Russia 19%, Brazil 4.7%, Rest of world 4.4%. China 72%, Russia 19%, Brazil 5% (2025)	—	—
Zinc A metal used mainly to galvanize steel against rust, plus die-casting alloys and brass.	Share of world zinc production: China 32%, Peru 12%, Australia 8.5%, Rest of world 48%. China 32%, Peru 12%, Australia 8% (2025)	$4,021/t LME cash, special high grade	+37%
Zirconium A heat- and corrosion-resistant element mined almost entirely as the mineral zircon from mineral-sand deposits and used in ceramics, foundry sands, chemicals and, as a metal, in nuclear fuel cladding.	Share of world zirconium production: Australia 33%, South Africa 23%, Mozambique 13%, Rest of world 31%. Australia 33%, South Africa 23%, Mozambique 13% (2025)	—	—

Price index since 1960

Metals and minerals indexBase metals index

Source: World Bank Commodity Price Data (The Pink Sheet), monthly indices, 2010 = 100, published 2026-10-02. CC BY 4.0.

Indices are monthly averages and lag the market; informational only, not investment advice.

Which metals prices move together?

Within metals, gold and silver are the most closely linked: their monthly price changes correlate at 0.69. Correlation of monthly log price changes (not price levels), computed only over pairs with at least 90 overlapping months, the same method as the site-wide linked-prices report and the correlation calculator — this view is scoped to metals alone, which the site-wide report's top pairs rarely include.

Green: prices that rise and fall together. Brown: prices that move in opposite directions. Thicker and darker lines are stronger correlations.

Data updated 22 October 2026.