HS Code:
The 'Measuring over 5 mm in thickness' category, often associated with materials like steel, aluminum, or other metals under various HS Codes such as 7208 (flat-rolled products of iron or non-alloy steel), refers to products that exceed 5 mm in thickness. These products are widely used in industries such as construction, automotive, shipbuilding, and heavy machinery manufacturing due to their strength and durability. This category includes plates, sheets, and strips that meet specific dimensional criteria and are critical to industrial applications globally.
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
6.5% 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 in automotive sector
Increased trade volume as automakers seek lightweight yet durable materials for fuel efficiency
2021-2022
Shift towards sustainable production methods
Higher costs but growing preference for green steel in Europe and North America
2022
Infrastructure boom in developing economies
Surging demand for thick steel plates in construction projects across Asia and Africa
2020-2022
The United States revised its Section 232 tariffs on steel imports, replacing some tariffs with tariff-rate quotas for allies like the EU and Japan.
March 2022
Eased trade tensions and increased import volumes from allied nations, though domestic producers face competitive pressure.
The EU introduced CBAM to impose carbon taxes on imported steel and other high-emission products, targeting thick steel plates among others.
October 2023 (phased implementation)
Increased costs for exporters from high-emission countries like China, pushing for greener production technologies.
China reduced export tax rebates for certain steel products, including those over 5 mm in thickness, to curb overproduction and focus on domestic supply.
May 2021
Slight reduction in export volumes from China, creating opportunities for other exporters like South Korea and Japan.