HS Code:
This category includes L or T sections of iron or non-alloy steel, not further worked than hot-rolled, hot-drawn, or extruded, with a height of 80 mm or more. These products are primarily used in construction, infrastructure projects, and industrial applications due to their structural strength and versatility. They fall under HS Code 7216.31 (for U, I, and H sections) and related subcategories, often specified by regional trade agreements and standards.
Total Trade Volume
Approximately $12.5 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$3.8 billion USD
30.4% of total trade of total trade
Increasing
$1.9 billion USD
15.2% of total trade of total trade
Stable
$1.5 billion USD
12.0% of total trade of total trade
Increasing
$1.2 billion USD
9.6% of total trade of total trade
Stable
$900 million USD
7.2% of total trade of total trade
Decreasing
Average Rate
5.2% 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 developing economies
Increased exports to regions like Southeast Asia and Africa due to infrastructure development projects.
2021-2022
Shift towards sustainable production
Growing preference for steel produced with lower carbon emissions, influencing supplier selection in Europe.
2022
Price volatility due to raw material costs
Fluctuations in iron ore and energy prices have led to unstable pricing, affecting long-term contracts.
2020-2022
The European Union extended anti-dumping duties on Chinese steel sections, citing unfair pricing practices.
March 2023
Likely to reduce Chinese market share in Europe while benefiting local producers.
The US Infrastructure Investment and Jobs Act has spurred demand for steel sections for domestic projects.
November 2021
Increased imports and domestic production to meet construction needs.
South Korea and Japan are investing in hydrogen-based steel production to reduce carbon footprints.
June 2023
Potential shift in trade dynamics as eco-friendly steel gains market preference.