Strontium's commercial supply chain is built almost entirely around celestite (SrSO₄), a dense mineral mined at roughly 510,000 metric tons per year globally. Iran and Spain each produce approximately 200,000 tons annually — together accounting for ~78% of world output — followed by China (16%) and Mexico (5%). The United States has not mined strontium since 1959 and is 100% import-reliant, sourcing celestite almost exclusively from Mexico and strontium carbonate primarily from Germany and Mexico. Celestite is the feedstock for strontium carbonate (SrCO₃), the principal commercial compound, from which the remainder of the strontium chemical tree — strontium nitrate, oxide, hydroxide, and metal — is derived.

Two applications dominate US consumption in roughly equal measure: ceramic ferrite magnets (40%) and pyrotechnics and signal flares (40%). Strontium ferrite (SrFe₁₂O₁₉) is the world's most widely produced permanent magnet material by volume, used in motors, loudspeakers, and consumer electronics. Strontium nitrate produces the most vivid red coloration of any commercial pyrotechnic material, making it essentially irreplaceable for military signal flares and low-noise fireworks. Barium can substitute for strontium in ferrite magnets with some reduction in maximum operating temperature, but no practical substitute exists for pyrotechnic applications. Drilling fluids (celestite as a barite substitute) account for roughly 2% of US consumption, a share that shrank sharply in 2024 as US rig counts declined and operators reverted to barite.

The strontium market saw unusual price behavior in 2024: celestite import volumes collapsed 95% from 2023 levels as drillers drew down stockpiles and rig activity fell, while the average import price spiked to $390/ton from $82/ton in 2023 — a volume-price dynamic partly influenced by a small quantity of high-value mineral specimen imports distorting the unit value. In contrast, strontium compound imports rose 20%, driven by sustained ferrite magnet and pyrotechnic demand. The US Department of Defense's February 2024 investment in domestic strontium nitrate and related compound manufacturing under the Defense Production Act signals recognition of strontium's defense criticality — even though it does not appear on the formal US or EU critical minerals lists — given that strontium compounds are essential to signal flares, tracer ammunition, and low-noise pyrotechnic munitions.