HS Code:
The 'Bars and rods, not further worked than cold-formed or cold-finished' category, typically classified under HS Code 7215 (for iron or non-alloy steel) or similar codes depending on the material (e.g., stainless steel under HS 7222), includes metal bars and rods that have been cold-formed or cold-finished but not further processed. These products are widely used in construction, manufacturing, and industrial applications due to their strength, durability, and versatility. This category excludes products that have been hot-rolled or further worked into specific shapes or forms. Global trade in this category is driven by demand in infrastructure development, automotive industries, and machinery production.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
25.6% of total trade of total trade
Increasing
USD 1.8 billion
14.4% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.1 billion
8.8% of total trade of total trade
Stable
USD 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
25% (imposed by certain developing countries on imports to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Rising demand for high-strength steel bars in automotive sector
Increased exports from countries with advanced steel production technologies like Japan and Germany
2021-2022
Shift towards sustainable production methods
Higher production costs but improved market access in regions with strict environmental regulations like the EU
2020-2022
Fluctuating raw material prices
Volatility in trade volumes as manufacturers adjust to cost changes, particularly affecting smaller exporters
2022
The European Union introduced provisional anti-dumping duties ranging from 18% to 32% on cold-finished steel bars from China to protect domestic producers.
March 2023
Likely to reduce Chinese exports to the EU, redirecting trade flows to other regions like Southeast Asia.
The US Infrastructure Investment and Jobs Act has increased demand for steel bars and rods for construction projects, benefiting both domestic producers and key importers.
November 2021
Significant rise in imports from allied countries like Canada and South Korea under favorable trade terms.
Ongoing disruptions due to geopolitical tensions and port congestion have delayed shipments of cold-formed bars and rods, affecting project timelines worldwide.
Mid-2022
Increased costs and lead times, prompting buyers to source from regional suppliers where possible.