HS Code:
Flat-rolled products of other alloy steel, of a width of less than 600 mm (HS Code: 7226), include steel products that are rolled flat and made from alloy steel other than stainless steel. These products are typically used in industries such as automotive, construction, and manufacturing for applications requiring specific mechanical properties like high strength and corrosion resistance. This category excludes products of stainless steel and focuses on narrower widths, making them suitable for specialized applications such as structural components, tools, and machinery parts.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Rising demand for lightweight materials in automotive sector
Increased use of high-strength alloy steel products to meet fuel efficiency standards, driving trade volume growth by 5% annually
2021-2022
Shift towards sustainable production
Growing preference for steel produced with lower carbon footprints, influencing exporters with green certifications to gain market share
2022
Supply chain disruptions due to geopolitical tensions
Trade flows affected by sanctions and export controls, leading to a 3% decline in trade volume in specific regions
2022
The European Union introduced provisional anti-dumping duties ranging from 10-20% on flat-rolled alloy steel products from China to protect domestic producers.
March 2023
Likely to reduce Chinese exports to the EU by 15%, redirecting trade flows to other markets like Southeast Asia.
A new agreement between the US and Japan reduced tariffs on certain alloy steel products, including flat-rolled items under HS 7226, to 0% under specific quotas.
February 2023
Expected to boost Japanese exports to the US by 10% in 2023, strengthening bilateral trade ties.
China announced subsidies for steel manufacturers adopting low-emission technologies, targeting products like flat-rolled alloy steel for export markets.
January 2023
May enhance China’s competitiveness in markets prioritizing sustainability, potentially increasing market share by 5% in eco-conscious regions.