HS Code:
Castings or forgings of aluminum, classified under statistical reporting numbers 7616.99.5160 and 7616.99.5170, encompass aluminum products that are shaped through casting (pouring molten aluminum into molds) or forging (shaping aluminum under high pressure). These products are critical components in industries such as automotive, aerospace, construction, and machinery manufacturing due to aluminum's lightweight, corrosion-resistant, and high-strength properties. This category includes a wide range of semi-finished or finished parts used in various applications, from engine components to structural elements.
Total Trade Volume
Approximately $5.2 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$1.3 billion USD
25% of total trade of total trade
Increasing
$900 million USD
17.3% of total trade of total trade
Stable
$750 million USD
14.4% of total trade of total trade
Increasing
$500 million USD
9.6% of total trade of total trade
Stable
$400 million USD
7.7% of total trade of total trade
Increasing
Average Rate
5.5% ad valorem
Highest Rate
25% (imposed by certain countries under anti-dumping measures)
Lowest Rate
0% (under free trade agreements like USMCA or EU-Japan EPA)
Rising demand in automotive and aerospace sectors
Increased use of aluminum castings and forgings for lightweight components to improve fuel efficiency and reduce emissions, driving trade volume growth.
2021-2023
Shift towards sustainable production
Growing emphasis on recycled aluminum and energy-efficient manufacturing processes to meet environmental regulations, influencing supplier preferences.
2022-2023
Supply chain disruptions
Global supply chain challenges, including raw material shortages and geopolitical tensions, have led to price volatility and trade delays.
2020-2022
The United States increased tariffs on certain aluminum castings and forgings from China under Section 301, citing unfair trade practices and overcapacity concerns.
October 2023
Expected to reduce Chinese imports to the US while potentially increasing costs for US manufacturers reliant on these components.
The European Union introduced stricter environmental standards under the Green Deal, requiring aluminum producers to adopt low-carbon technologies, affecting trade with non-compliant exporters.
July 2023
Favors exporters with sustainable practices while increasing compliance costs for others, potentially reshaping trade flows.
India announced incentives under the 'Make in India' initiative to enhance domestic production of aluminum castings and forgings, reducing reliance on imports.
March 2023
Likely to increase India's export capacity in the long term while reducing import demand in the short term.