HS Code:
The 'Not further worked than hot-rolled, not in coils' category under the Harmonized System (HS) Code typically refers to flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, which have undergone hot-rolling but have not been further processed or coiled. These products are primarily used in industries such as construction, automotive, shipbuilding, and heavy machinery manufacturing for structural components and plates. This category is critical in global trade due to its foundational role in industrial production.
Total Trade Volume
USD 45.3 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU internal trade or USMCA)
Rising demand in renewable energy infrastructure
Increased use in wind turbine towers and solar panel frameworks has boosted demand for hot-rolled steel products, particularly in Europe and North America.
2021-2022
Shift towards sustainable steel production
Growing emphasis on low-carbon steel production methods is influencing trade patterns, with countries offering green steel gaining competitive advantage.
2022
Volatility in raw material prices
Fluctuations in iron ore and coal prices have led to unpredictable pricing in the hot-rolled steel market, affecting trade volumes and profitability.
2020-2022
The United States adjusted its Section 232 tariffs on steel imports, replacing some tariffs with tariff-rate quotas for key allies like the EU and Japan, impacting the flow of hot-rolled steel.
January 2022
Increased imports from allied countries while maintaining restrictions on others, reshaping trade patterns.
China removed export tax rebates on certain steel products, including hot-rolled steel, to focus on domestic supply and reduce carbon emissions.
May 2021
Reduced export competitiveness of Chinese steel, opening opportunities for other exporters like South Korea and India.
The EU introduced plans for a Carbon Border Adjustment Mechanism, which will impose a carbon tax on high-emission steel imports starting in 2026, with a transition phase from 2023.
July 2021 (announced)
Likely to increase costs for non-EU exporters unless they adopt greener production methods, affecting trade dynamics.