HS Code:
The category 'Having a width less than four times the thickness' typically refers to specific steel or metal products under the Harmonized System (HS) Code, often found within Chapter 72 or 73, which covers iron, steel, and articles thereof. These products are characterized by their dimensional specifications where the width is less than four times the thickness, often used in specialized industrial applications such as construction, automotive, and machinery manufacturing. This category includes flat-rolled products, bars, or rods with specific cross-sectional dimensions. Global trade in this category is influenced by industrial demand, raw material availability, and trade policies affecting steel and metal products.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.8 billion
30.4% of total trade of total trade
Increasing
USD 1.9 billion
15.2% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.2 billion
9.6% of total trade of total trade
Stable
USD 900 million
7.2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Rising demand for high-strength steel in automotive sector
Increased trade volume as manufacturers seek specialized steel products for lightweight and durable vehicle components
2021-2022
Shift towards sustainable production methods
Countries with green steel initiatives gaining competitive advantage in markets with strict environmental regulations
2022
Supply chain disruptions due to geopolitical tensions
Trade rerouting and increased costs as exporters seek alternative markets amid sanctions or trade wars
2022
The European Union introduced safeguard measures on certain steel products, including those in this category, to curb imports and protect local producers.
February 2023
Expected to reduce import volumes from non-EU countries by 10-15%, redirecting trade flows to other regions.
Negotiations between the US and China resulted in a temporary reduction of tariffs on specific steel categories, boosting bilateral trade.
May 2023
Likely to increase Chinese exports to the US by USD 200 million annually in this category.
Due to raw material shortages and high energy costs, global steel prices, including for products in this category, have risen by 20% over the past six months.
September 2023
Higher trade values but potential reduction in volume as buyers adjust to cost pressures.