HS Code:
Hot-rolled strip of stainless steel, provided for in subheadings 7220.12.10 and 7220.12.50 of the Harmonized System (HS) Code, refers to flat-rolled products of stainless steel, of a width of less than 600 mm, hot-rolled, not clad, plated, or coated. These products are typically used in industries such as automotive, construction, and manufacturing for applications requiring high corrosion resistance and strength. This category includes strips of varying thicknesses, often utilized in the production of components like exhaust systems, structural parts, and industrial equipment. Global trade in this category is influenced by industrial demand, raw material availability, and trade policies affecting steel products.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC) Trade Map
$350 million USD
29.2% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$180 million USD
15.0% 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
Average Rate
5.8% ad valorem
Highest Rate
25% (imposed by certain countries under anti-dumping measures)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in automotive and renewable energy sectors
Increased demand for stainless steel strips in electric vehicle battery casings and wind turbine components has boosted trade volumes, particularly in Asia and Europe.
2021-2022
Shift towards sustainable production methods
Manufacturers adopting low-carbon production techniques are gaining competitive advantage, influencing trade flows towards environmentally conscious markets like the EU.
2022
Supply chain disruptions due to geopolitical tensions
Trade routes and supply chains have been affected by sanctions and export controls, leading to price volatility and regional shortages.
2022-2023
The European Union extended anti-dumping duties on hot-rolled stainless steel strips from China to counter unfair pricing practices, affecting trade volumes from the region.
March 2023
Reduction in Chinese exports to the EU; potential increase in market share for other exporters like Japan and South Korea.
Under the US-Mexico-Canada Agreement, tariff exemptions for stainless steel products were revised, promoting intra-regional trade among member countries.
July 2022
Increased trade volume within North America, benefiting US and Mexican manufacturers.
China reduced export tax rebates on certain steel products, including hot-rolled stainless steel strips, to focus on domestic supply and environmental goals.
May 2021
Slight decrease in Chinese export competitiveness, opening opportunities for other exporting nations.