HS Code:
The category of 'Base metals, silver or gold, clad with platinum, not further worked than semi-manufactured' (HS Code: 7111) includes products where base metals, silver, or gold are coated or clad with platinum. These items are semi-manufactured, meaning they have undergone some processing but are not yet finished products. This category is often used in jewelry making, industrial applications, and electronics due to the unique combination of durability and aesthetic or conductive properties provided by the platinum cladding.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.5%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand in electronics sector
Increased use of platinum-clad materials in conductive components drives trade volume, especially in Asia-Pacific markets.
2021-2022
Fluctuating platinum prices
Volatility in platinum prices affects the cost of clad products, influencing trade dynamics and buyer preferences.
2020-2022
Sustainability push
Growing emphasis on sustainable sourcing of precious metals impacts supply chains, with increased scrutiny on mining practices.
2022
The United States revised tariffs on platinum-clad products as part of broader trade negotiations with the EU, reducing rates to encourage imports.
March 2023
Expected to boost trade volume by 10-15% between the US and EU.
South Africa, a major supplier of platinum, introduced stricter environmental regulations, potentially affecting global supply chains for platinum-clad products.
June 2023
May lead to short-term supply shortages and price increases.
Advances in cladding techniques have reduced production costs, making platinum-clad products more competitive in industrial applications.
September 2023
Likely to increase demand in electronics and automotive sectors.