HS Code:
The category of Angles, Shapes, and Sections under HS Codes 7216.31.00, 7216.32.00, 7216.33.00, 7216.40.00, 7216.50.00, 7216.99.00, 7228.70.30 (excluding specific statistical reporting numbers), and 7228.70.60 encompasses iron and steel products used primarily in construction and industrial applications. These products include U, I, H, L, and T sections, as well as other shapes that are hot-rolled, hot-drawn, or extruded. They are critical components in infrastructure projects, building frameworks, and manufacturing industries due to their strength and versatility.
Total Trade Volume
Approximately $15.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$3.8 billion USD
25% of total trade of total trade
Increasing
$2.1 billion USD
14% of total trade of total trade
Stable
$1.5 billion USD
10% of total trade of total trade
Increasing
$1.3 billion USD
9% of total trade of total trade
Stable
$1.0 billion USD
7% of total trade of total trade
Increasing
Average Rate
3.5% ad valorem
Highest Rate
25% (imposed by certain countries under safeguard measures or anti-dumping duties, e.g., United States under Section 232)
Lowest Rate
0% (under free trade agreements or preferential trade schemes such as EU-GSP or USMCA)
Rising demand in infrastructure projects
Increased exports from major steel-producing countries like China and Turkey due to global infrastructure initiatives such as Belt and Road projects and post-COVID recovery plans.
2021-2022
Shift towards sustainable steel production
Growing preference for low-carbon steel products is pushing exporters in Europe (e.g., Germany) to adopt greener technologies, influencing trade patterns and pricing.
2022
Volatility in raw material prices
Fluctuations in iron ore and energy costs have led to unstable pricing for angles and sections, affecting trade competitiveness in price-sensitive markets.
2022
The European Union extended its safeguard measures on steel imports, including angles and sections, to protect domestic producers from cheap imports, particularly from Asia.
June 2023
Reduced market access for exporters like China and Turkey, redirecting trade flows to other regions such as the Middle East and Africa.
The United States reviewed its Section 232 tariffs on steel imports, maintaining high duties on certain countries while offering exemptions to allies under quota agreements.
March 2023
Mixed effects on trade; countries like South Korea benefit from exemptions, while others face continued high costs to access the US market.
China reduced export tax rebates for steel products, including angles and sections, as part of efforts to curb overproduction and focus on domestic carbon reduction goals.
August 2021
Slight reduction in export competitiveness for Chinese products, creating opportunities for other exporters like Turkey and South Korea.