HS Code:
Fish-plates and sole plates (HS Code: 7302.40) are critical components used in railway infrastructure, specifically for joining and supporting railway tracks. Fish-plates are metal bars that are bolted to the ends of two rails to join them together, while sole plates are used as base plates to provide stability and support under the rails. These products are essential for the construction, maintenance, and expansion of railway networks globally. The trade in this category is influenced by the growth of rail transport, urbanization, and government investments in infrastructure projects.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$350 million USD
29.2% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$150 million USD
12.5% of total trade of total trade
Increasing
$100 million USD
8.3% of total trade of total trade
Increasing
$80 million USD
6.7% of total trade of total trade
Stable
Average Rate
5.8% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU internal trade or USMCA)
Increased demand due to global rail infrastructure projects
Significant growth in trade volume as countries like India, China, and African nations invest in high-speed rail and urban transit systems.
2020-2023
Shift towards sustainable and lightweight materials
Manufacturers are innovating with high-strength steel and composite materials to reduce weight and improve durability, affecting production costs and trade patterns.
2021-2023
Regionalization of supply chains
Due to geopolitical tensions and logistics costs, countries are sourcing fish-plates and sole plates from regional suppliers rather than global exporters like China.
2022-2023
The European Union introduced anti-dumping duties ranging from 7.5% to 10% on Chinese fish-plates and sole plates to protect domestic manufacturers from unfairly priced imports.
March 2023
Expected to reduce Chinese exports to the EU by 15-20%, potentially benefiting manufacturers in Germany and France.
India announced a $30 billion investment in railway infrastructure under the National Rail Plan, boosting demand for fish-plates and sole plates.
December 2022
Increased imports and local production, with trade volume expected to grow by 10% annually through 2025.
The US Infrastructure Investment and Jobs Act allocates significant funding for rail upgrades, with 'Buy American' provisions favoring domestic suppliers.
November 2021
Reduced reliance on imports, with a projected 5% increase in domestic production of railway components by 2024.