HS Code:
Bars and rods, hot-rolled, in irregularly wound coils, fall under various subheadings of the Harmonized System (HS) codes 7213 and 7227. This category primarily includes steel products used in construction, manufacturing, and infrastructure projects. These products are typically made of carbon steel or alloy steel and are essential for applications such as reinforcement in concrete (rebar), wire production, and other industrial uses. The category excludes specific statistical reporting numbers as outlined, which may pertain to niche or specialized products within the broader classification. Global trade in this category is driven by demand in construction and industrial sectors, particularly in emerging economies with significant infrastructure development.
Total Trade Volume
Approximately $15.3 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$3.8 billion USD
24.8% of total trade of total trade
Increasing
$2.1 billion USD
13.7% of total trade of total trade
Increasing
$1.5 billion USD
9.8% of total trade of total trade
Stable
$1.2 billion USD
7.8% of total trade of total trade
Stable
$900 million USD
5.9% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
25% (imposed by certain countries under safeguard measures or anti-dumping duties)
Lowest Rate
0% (under free trade agreements or preferential trade schemes such as GSP)
Rising demand in developing economies
Increased export opportunities for major producers like China and Turkey due to infrastructure projects in Asia and Africa.
2021-2023
Shift towards sustainable steel production
Growing preference for low-carbon steel products, pressuring producers to adopt greener technologies.
2022-2023
Volatility in raw material prices
Fluctuations in iron ore and scrap metal prices affecting production costs and trade margins.
2020-2023
The European Union extended anti-dumping duties on hot-rolled steel products from China, citing unfair pricing practices.
March 2023
Reduced competitiveness of Chinese exports in the EU market, potentially benefiting other exporters like Turkey and Russia.
The United States adjusted tariffs under Section 232 on steel imports, converting some tariffs to tariff-rate quotas for certain countries.
January 2022
Eased trade barriers for select exporters like Japan and South Korea, increasing their market share in the US.
The World Steel Association forecasted a 2.2% increase in global steel demand for 2023, driven by construction and infrastructure recovery post-COVID.
October 2022
Positive outlook for exporters as demand for hot-rolled bars and rods is expected to grow in key markets.