HS Code:
The 16 mm category under the Harmonized System (HS) Code typically refers to products such as steel bars, rods, or other materials with a diameter or thickness of 16 mm. This category is widely used in construction, manufacturing, and industrial applications. Due to the lack of a specific HS Code provided in the query, this response assumes a general classification related to steel or metal products under a relevant HS chapter (e.g., Chapter 72 for iron and steel). Products in this category are critical for infrastructure development and industrial production, with demand driven by urbanization and industrial growth globally.
Total Trade Volume
USD 15.3 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
25% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU internal trade or USMCA)
Rising demand for sustainable materials
Increased preference for recycled steel and low-carbon production methods, pushing manufacturers to adopt greener technologies.
2021-2023
Growth in infrastructure projects
Significant boost in demand for 16 mm steel bars due to large-scale infrastructure initiatives in Asia and Africa.
2020-2022
Supply chain disruptions
Global supply chain issues, including raw material shortages and shipping delays, have led to price volatility in this category.
2021-2022
The European Union introduced a 15% tariff on steel products, including 16 mm bars, from certain Asian countries to combat dumping practices.
March 2023
Expected to increase costs for EU importers and potentially shift trade flows to other regions.
China announced a policy to reduce carbon emissions in steel production, affecting the 16 mm category with new production standards.
January 2023
Likely to raise production costs in the short term but improve long-term sustainability and market access to eco-conscious regions.
The US government's infrastructure bill, passed in late 2021, has led to a surge in demand for steel products, including 16 mm rods, for construction projects.
Ongoing since November 2021
Increased imports and domestic production, driving up trade volumes in the US market.