HS Code:
The category 'Containing by weight more than 4 percent of carbon' typically falls under specific HS Codes related to ferro-alloys or other carbon-containing materials (e.g., HS Code 7202 for ferro-alloys). This category includes products like ferro-carbon alloys used primarily in steelmaking and other industrial applications. These materials are critical for enhancing the properties of steel, such as strength and durability, by acting as deoxidizers or alloying elements. The global trade of such products is driven by demand in the steel and manufacturing sectors, particularly in countries with significant industrial output.
Total Trade Volume
Approximately $15 billion USD
Data from 2022
Source
United Nations Comtrade Database
$4.5 billion USD
30% of total trade of total trade
Increasing
$2.1 billion USD
14% of total trade of total trade
Increasing
$1.8 billion USD
12% of total trade of total trade
Stable
$1.2 billion USD
8% of total trade of total trade
Decreasing
$900 million USD
6% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-India FTA for specific partners)
Rising demand for high-carbon ferro-alloys in green steel production
Increased trade volumes as countries invest in sustainable steelmaking technologies
2021-2023
Shift towards regional supply chains post-COVID-19
Reduced dependency on long-distance imports, affecting major exporters like China
2020-2022
Fluctuating raw material prices for carbon and iron ore
Trade volatility as production costs vary, influencing export competitiveness
2022-2023
The EU introduced CBAM to tax carbon-intensive imports like ferro-alloys starting in 2023, aiming to level the playing field for EU producers under strict emission norms.
October 2023
Increased costs for exporters from high-emission countries like China and India, potentially reducing their market share in the EU.
China implemented export quotas on ferro-alloys to prioritize domestic steel production amid global supply chain disruptions.
January 2022
Tightened global supply, driving up prices and benefiting other exporters like South Africa and Brazil.
The US imposed additional duties on Russian ferro-carbon imports citing unfair trade practices and geopolitical tensions.
March 2022
Reduced Russian exports to the US, creating opportunities for alternative suppliers like India.