HS Code:
The category 'Having shanks, threads or holes less than 6 mm in diameter' typically falls under specific subheadings of the Harmonized System (HS) Code, often related to fasteners, screws, bolts, or similar articles of iron, steel, or other metals (e.g., HS Code 7318 or 7415). This category includes small precision components used in various industries such as electronics, automotive, and machinery manufacturing. These products are critical for assembly and fastening purposes where small dimensions are required.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in electronics sector
Increased production of small fasteners for smartphones, laptops, and wearable devices has boosted trade volume, especially from Asian exporters.
2021-2022
Shift towards sustainable materials
Manufacturers are adopting eco-friendly coatings and materials, influencing sourcing patterns and increasing costs slightly.
2022
Automation in manufacturing
Adoption of automated production lines has reduced costs and improved precision, benefiting high-volume exporters like China and Taiwan.
2020-2022
The European Union extended anti-dumping duties on certain steel fasteners from China, citing unfair pricing practices.
February 2023
This has led to a shift in sourcing to other Asian countries like Taiwan and Vietnam, increasing their market share.
New rules under the USMCA tightened regional content requirements for fasteners used in automotive industries, affecting trade flows in North America.
July 2022
Increased production costs for manufacturers relying on non-regional suppliers, prompting a rise in domestic production.
Innovations in manufacturing have enabled even smaller and more precise fasteners, catering to the growing microelectronics market.
October 2022
Boosted exports from tech-heavy economies like Japan and South Korea, creating new niche markets.