HS Code:
Ferrotitanium and ferrosilicon titanium, classified under HS Code 720291, are ferroalloys used primarily in the steel industry to improve the strength, corrosion resistance, and durability of steel products. Ferrotitanium is an alloy of iron and titanium, often containing 10-75% titanium, while ferrosilicon titanium combines silicon and titanium with iron to enhance specific metallurgical properties. These materials are critical in the production of high-strength low-alloy (HSLA) steel, stainless steel, and other specialized alloys used in aerospace, automotive, and construction industries.
Total Trade Volume
Approximately 120,000 metric tons valued at $500 million USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
35,000 metric tons valued at $150 million USD
30% of global trade of total trade
Increasing
25,000 metric tons valued at $100 million USD
20% of global trade of total trade
Stable
15,000 metric tons valued at $60 million USD
12% of global trade of total trade
Increasing
10,000 metric tons valued at $50 million USD
8% of global trade of total trade
Stable
8,000 metric tons valued at $35 million USD
7% of global trade of total trade
Decreasing
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-USMCA or in WTO member states with specific exemptions)
Rising demand in aerospace and automotive sectors
Increased production and trade of ferrotitanium due to the need for lightweight, high-strength materials in manufacturing
2021-2023
Shift towards sustainable production
Growing emphasis on low-carbon production methods, impacting cost structures and trade competitiveness
2022-2023
Geopolitical supply chain disruptions
Sanctions on Russia and supply chain bottlenecks have led to price volatility and diversification of sourcing
2022
The European Union introduced provisional anti-dumping duties ranging from 8-12% on Chinese ferrotitanium imports to protect domestic producers from unfair pricing practices.
June 2023
Likely to shift trade flows towards other suppliers like India and Russia, increasing costs for EU steelmakers in the short term
Russia implemented temporary export quotas on ferrotitanium and other ferroalloys to prioritize domestic steel production amid geopolitical tensions.
March 2022
Caused a significant supply shortage in Europe, driving up prices by 20% and forcing buyers to seek alternative suppliers
A major Indian steel producer announced the commissioning of a new ferrotitanium production facility to meet growing domestic and international demand.
September 2023
Expected to boost India's export capacity by 10,000 metric tons annually, strengthening its position in the global market