HS Code:
The 'Measuring over 3.5 mm in thickness' category typically pertains to specific materials or products, such as steel plates, sheets, or other metal products under HS codes like 7208 or 7211 (though the exact HS code is not specified in the query). This category includes flat-rolled products of iron, non-alloy steel, or other materials used primarily in construction, manufacturing, and industrial applications. These products are critical in industries such as automotive, shipbuilding, and infrastructure development due to their durability and structural properties.
Total Trade Volume
USD 45.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 12.3 billion
27.0% of total trade of total trade
Increasing
USD 6.8 billion
14.9% of total trade of total trade
Stable
USD 5.2 billion
11.4% of total trade of total trade
Increasing
USD 4.1 billion
9.0% of total trade of total trade
Stable
USD 3.9 billion
8.6% 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 for high-strength steel
Increased trade in thicker steel plates for renewable energy projects like wind turbines.
2021-2022
Shift toward sustainable production
Growing preference for low-carbon steel production, influencing trade patterns with higher costs but better market access in eco-conscious regions.
2022
Regionalization of supply chains
Reduction in long-distance trade due to geopolitical tensions and a focus on local sourcing.
2020-2022
The European Union introduced provisional anti-dumping duties ranging from 18% to 25% on certain thick steel products from China to protect domestic producers.
October 2022
Likely to reduce Chinese exports to the EU while increasing opportunities for other exporters like South Korea and Japan.
The US Infrastructure Investment and Jobs Act has spurred demand for thick steel plates for bridges and highways, increasing imports despite Section 232 tariffs.
November 2021
Positive for exporters to the US, though high tariffs may limit gains for some countries.
India imposed a 15% export duty on certain steel products, including those over 3.5 mm in thickness, to ensure domestic supply amid global price surges.
May 2022
Reduction in Indian exports, creating opportunities for other steel-exporting nations in Asian markets.