HS Code:
The 'Cast' category, typically falling under HS Code 73 (Articles of Iron or Steel), includes cast iron and steel products such as pipes, fittings, and other structural components. These products are fundamental to industries like construction, automotive, and infrastructure development. Cast products are manufactured through casting processes where molten metal is poured into molds to create specific shapes. This category is critical in global trade due to its widespread industrial applications and the high demand for durable materials in emerging economies.
Total Trade Volume
USD 85.3 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
25% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Rising demand for cast iron in renewable energy infrastructure
Increased trade volume due to the growth of wind turbine and solar panel installations requiring durable cast components.
2021-2022
Shift towards sustainable production methods
Manufacturers adopting green casting technologies to meet environmental regulations, influencing cost structures and trade competitiveness.
2020-2022
Supply chain disruptions due to geopolitical tensions
Price volatility and delays in cast product exports, particularly from major exporters like China, affecting global availability.
2022
The European Union introduced anti-dumping duties ranging from 15-25% on cast iron imports from China to protect local manufacturers from unfairly priced imports.
March 2023
Potential shift in trade flows as EU importers may source from alternative countries like India or Turkey, increasing costs in the short term.
The US government's $1.2 trillion infrastructure bill, passed in late 2021, has led to a surge in demand for cast iron and steel components for bridges, roads, and public works.
January 2022
Significant increase in imports and domestic production, benefiting exporters like Canada and Mexico under USMCA agreements.
India introduced new export incentives under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to boost cast iron exports.
August 2022
Enhanced competitiveness of Indian cast products in global markets, potentially increasing market share in regions like the Middle East and Africa.