HS Code:
The 'Angles, shapes and sections of iron or non-alloy steel' category, classified under HS Code 7216, includes various structural steel products used primarily in construction, infrastructure, and industrial applications. These products encompass a range of shapes such as angles, channels, I-beams, H-beams, and other sections made from iron or non-alloy steel. They are critical components in building frameworks, bridges, and machinery due to their strength and durability. This category is a significant segment of the global steel trade, driven by demand in urbanization and industrialization projects worldwide.
Total Trade Volume
USD 25.3 billion
Data from 2022
Source
United Nations Comtrade Database
USD 6.8 billion
26.9% of total trade of total trade
Increasing
USD 3.2 billion
12.6% of total trade of total trade
Stable
USD 2.5 billion
9.9% of total trade of total trade
Increasing
USD 2.1 billion
8.3% of total trade of total trade
Stable
USD 1.9 billion
7.5% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU internal trade or USMCA)
Rising demand in developing economies
Increased exports to regions like Southeast Asia and Africa due to rapid urbanization and infrastructure projects
2021-2022
Shift towards sustainable steel production
Growing preference for low-carbon steel production methods, influencing trade patterns towards countries with greener technologies
2020-2022
Fluctuating raw material prices
Volatility in iron ore and energy prices affecting production costs and export competitiveness
2022
The European Union introduced anti-dumping duties ranging from 18% to 35% on certain steel sections from China to protect domestic manufacturers.
March 2023
Likely to reduce Chinese exports to the EU, redirecting trade flows to other regions like Asia and the Middle East.
The US government's $1.2 trillion infrastructure bill has spurred demand for steel sections, with a focus on 'Buy American' policies.
November 2021
Increased imports from allied countries under USMCA, while domestic production ramps up.
Several countries, including Japan and South Korea, are adopting stricter environmental standards for steel production, influencing trade preferences.
June 2022
Potential trade barriers for producers not meeting sustainability criteria, favoring exporters with advanced technologies.