HS Code:
The 'Assembled in a wire coil' category, often classified under HS Code 7326.20 (Articles of iron or steel wire), encompasses products such as wire coils, springs, and other assembled wire products used across industries like automotive, construction, and manufacturing. These products are critical components in machinery, fencing, and various industrial applications. Global trade in this category is influenced by raw material availability, manufacturing capabilities, and regional demand for industrial goods.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Increased demand for lightweight wire coils in automotive sector
Driven by the shift toward electric vehicles, manufacturers are seeking lighter and more durable materials, boosting trade in specialized wire coils.
2021-2022
Rising raw material costs for steel
Higher production costs have led to price increases, affecting trade margins and competitiveness in price-sensitive markets.
2022
Automation in manufacturing processes
Advanced manufacturing technologies are improving production efficiency, allowing countries like Germany and Japan to maintain high-quality output and market share.
2020-2022
The European Union imposed anti-dumping duties ranging from 5-10% on wire coil imports from China to protect domestic producers from unfair pricing practices.
March 2023
This has led to a shift in sourcing to other Asian countries like South Korea and Taiwan, while increasing costs for EU importers.
The United States-Mexico-Canada Agreement (USMCA) has reduced tariffs on wire coil products within the region, enhancing trade flows among member countries.
July 2022
This has strengthened the position of the United States and Mexico as key players in the regional market, with a 15% increase in intra-regional trade volume.
New EU regulations mandate stricter environmental standards for steel wire production, including carbon emission limits and recycling requirements.
January 2023
Non-compliant exporters may face restricted access to the EU market, pushing manufacturers to invest in greener technologies.