HS Code:
Ferrotungsten and ferrosilicon tungsten (HS Code: 7202.80) are ferroalloys primarily used in the production of steel and other alloys to enhance strength, hardness, and resistance to wear and corrosion. Ferrotungsten is an alloy of iron and tungsten, while ferrosilicon tungsten combines silicon with tungsten and iron. These materials are critical in industries such as aerospace, automotive, and tool manufacturing due to tungsten's high melting point and density. Global trade in this category is influenced by the availability of tungsten ore, production capacities, and industrial demand for high-performance materials.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$650 million USD
54.2% of total trade of total trade
Increasing
$180 million USD
15.0% of total trade of total trade
Stable
$90 million USD
7.5% of total trade of total trade
Increasing
$80 million USD
6.7% of total trade of total trade
Stable
$60 million USD
5.0% of total trade of total trade
Decreasing
Average Rate
5.8% ad valorem
Highest Rate
15% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA or in WTO member countries with MFN status)
Rising demand for high-strength steel in automotive and aerospace sectors
Increased import demand in industrialized nations, driving up trade volumes by 8% annually since 2019
2020-2022
Shift toward sustainable production methods
Higher production costs due to stricter environmental regulations in Europe and North America, affecting price competitiveness
2021-2023
Growing tungsten recycling initiatives
Reduced reliance on primary imports in some regions, potentially stabilizing trade volumes in the long term
2022-2023
China, the largest exporter of ferrotungsten, reduced its export quota by 10% in 2023 to prioritize domestic supply for its growing manufacturing sector.
January 2023
Increased global prices by approximately 5% and shifted demand to alternative suppliers like Vietnam and Russia.
The European Union included tungsten in its list of critical raw materials, introducing policies to secure supply chains and reduce dependency on Chinese imports.
March 2023
Potential increase in trade agreements with non-Chinese suppliers and investments in domestic recycling.
The United States extended tariff waivers on ferrotungsten imports from certain allied countries to support domestic steel production amid supply chain disruptions.
June 2023
Stabilized import costs for US manufacturers, maintaining trade volumes with key partners like Germany.