HS Code:
Handles of stainless steel, classified under HS Code 7323.93.00, are components specifically designed as parts of cooking ware. This category includes handles used in pots, pans, and other kitchen utensils made of stainless steel, which is valued for its durability, resistance to corrosion, and aesthetic appeal. These products are integral to the cookware industry, which serves both household and commercial markets globally. Trade in this category is influenced by manufacturing capabilities, raw material availability, and consumer demand for high-quality kitchenware.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Statistics
$480 million USD
40% of total trade of total trade
Increasing
$180 million USD
15% of total trade of total trade
Stable
$120 million USD
10% of total trade of total trade
Increasing
$96 million USD
8% of total trade of total trade
Stable
$84 million USD
7% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA or within ASEAN)
Growing demand for premium cookware
Increased imports of high-quality stainless steel handles in developed markets like North America and Europe, driven by consumer preference for durable and aesthetically pleasing kitchenware.
2021-2022
Shift towards sustainable manufacturing
Manufacturers adopting eco-friendly production processes for stainless steel handles, influencing trade patterns as countries with stricter environmental regulations gain competitive advantage.
2020-2022
Rise of e-commerce in kitchenware sales
Boost in cross-border trade of stainless steel handles as online platforms facilitate direct-to-consumer sales, particularly benefiting exporters from China and India.
2019-2022
The European Union introduced anti-dumping duties ranging from 8-12% on stainless steel components, including handles for cooking ware, originating from China to protect domestic manufacturers.
March 2023
Potential reduction in Chinese exports to the EU, with opportunities for alternative suppliers like India and Vietnam to increase market share.
Revised rules under the USMCA have reduced tariffs on stainless steel cookware components among the US, Canada, and Mexico, fostering regional trade.
January 2023
Increased trade volume within North America, benefiting US and Mexican exporters of stainless steel handles.
India launched incentives under the Production Linked Incentive (PLI) scheme to boost exports of stainless steel goods, including cookware components like handles.
November 2022
Strengthened Indiaโs position as a key exporter, with a projected 15% growth in trade volume for 2023.