Mica: Trading
How sheet mica is graded and traded through India and China
What this tab covers How and where it is bought and sold: who buys and sells, exchanges and benchmarks, contract types, the big trading houses and how prices are discovered.Mica has no exchange. Flake and ground mica are sold by producers under contract, priced on particle size, colour and purity. Sheet mica and splittings are graded by size and quality and sold through traders, notably in India and China. Cosmetics and pearlescent pigment makers pay premiums for bright, traceable mica. Supply-chain audits, such as those of the Responsible Mica Initiative, increasingly decide who can sell to these buyers.
Where it is bought (buyers)
- Chinese processors buy Indian and Madagascan scrap for mica paper and pigments; China took 48% of world import value in 2024 (UN Comtrade)
- Japan (14% of import value), US, Germany, Italy and Korea buy processed mica
- Cosmetics and pigment makers buy through audited supply chains
Where it is sold (sellers)
- India (31% of world export value in 2024), China (18%) and Madagascar (15%) (UN Comtrade)
- US imports of sheet mica come mainly from China (73%) and Vietnam (8%) (USGS 2021-24)
Exchanges and benchmarks
| Venue | Contract | Notes |
|---|---|---|
| None | No exchange-traded contract | Bilateral sales by grade and form |
Contract types
- Local spot purchases from collectors and traders in Jharkhand and Bihar
- Export sales of scrap, powder, splittings and blocks
- Audited supply contracts for cosmetic and automotive pigment grades
Top trading houses
- Local mica traders and exporters in Koderma and Giridih; no major global trading houses
How prices are discovered
- USGS unit values for scrap, ground mica and splittings
- Indian export unit values (DGCIS)