HS Code:
Cold-rolled sheets, classified under various subheadings of HS codes 7209 and 7225, are flat-rolled products of iron or non-alloy steel, as well as alloy steel, that have been further processed after hot rolling to achieve a smoother surface finish, tighter dimensional tolerances, and improved mechanical properties. These products are widely used in automotive manufacturing, construction, appliances, and industrial machinery due to their strength and formability. The category includes sheets of varying thicknesses and widths, with specific classifications based on carbon content, alloying elements, and intended use.
Total Trade Volume
Approximately $45 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$12.5 billion USD
27.8% of global trade of total trade
Increasing
$6.8 billion USD
15.1% of global trade of total trade
Stable
$5.2 billion USD
11.6% of global trade of total trade
Stable
$3.9 billion USD
8.7% of global trade of total trade
Decreasing
$3.1 billion USD
6.9% of global trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
25% (imposed by certain countries under anti-dumping measures, e.g., USA on specific imports)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Growing demand in automotive sector
Increased production of electric vehicles (EVs) and lightweight vehicles has boosted demand for high-strength cold-rolled sheets, particularly in Asia and Europe.
2021-2023
Shift towards sustainable steel production
Manufacturers are adopting greener technologies to produce cold-rolled sheets, driven by environmental regulations and carbon neutrality goals, affecting production costs and trade dynamics.
2022-2023
Rising raw material costs
Fluctuations in iron ore and energy prices have led to increased production costs, impacting export competitiveness of certain countries.
2021-2022
The United States adjusted its Section 232 tariffs on steel imports, replacing tariffs with tariff-rate quotas for certain countries like the EU and Japan, impacting cold-rolled sheet trade flows.
January 2022
Improved market access for EU and Japanese exporters, potentially increasing competition in the US market.
The EU introduced the CBAM, which will impose a carbon tax on high-emission imports like steel, including cold-rolled sheets, starting in 2026 with a transitional phase from 2023.
October 2023
Exporters from high-emission countries may face higher costs to access the EU market, potentially shifting trade patterns.
China removed export tax rebates on certain steel products, including cold-rolled sheets, to encourage domestic consumption and reduce carbon emissions.
May 2021
Reduced export volumes from China, creating opportunities for other exporters like South Korea and Japan in global markets.