HS Code:
The 'Not machined, not tooled and not otherwise processed after forging' category includes forged metal products that have not undergone further processing such as machining or tooling after the initial forging process. These products are typically raw or semi-finished components used in industries like automotive, construction, and machinery manufacturing. They serve as essential inputs for further processing and assembly in downstream production. This category falls under various HS codes depending on the specific metal and product type (e.g., HS 7326 for other articles of iron or steel, or HS 7616 for aluminum articles), and is critical in global supply chains due to its role in manufacturing.
Total Trade Volume
Approximately $15.8 billion USD
Data from 2022
Source
United Nations Comtrade Database and World Trade Organization (WTO) Statistics
$4.2 billion USD
26.6% of total trade of total trade
Increasing
$2.1 billion USD
13.3% of total trade of total trade
Stable
$1.8 billion USD
11.4% of total trade of total trade
Increasing
$1.5 billion USD
9.5% of total trade of total trade
Stable
$1.2 billion USD
7.6% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries on imports to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Rising demand for lightweight forged components
Increased trade in aluminum and alloy-based forged products due to automotive and aerospace industries focusing on fuel efficiency and emissions reduction.
2021-2023
Shift towards sustainable production
Growing preference for suppliers using green energy and low-carbon forging processes, influencing trade patterns towards environmentally certified producers.
2022-2023
Regionalization of supply chains
Post-COVID-19 supply chain disruptions have led to a focus on nearshoring, boosting intra-regional trade in North America and Europe.
2020-2023
The European Union introduced anti-dumping tariffs ranging from 7.6% to 39.2% on certain forged steel products from China to protect domestic manufacturers.
March 2023
Likely to reduce Chinese exports to the EU while increasing opportunities for other exporters like India and Turkey.
The United States-Mexico-Canada Agreement has facilitated tariff-free trade in forged metal products, boosting regional supply chains in the automotive sector.
July 2022
Increased trade volume among USMCA countries, reducing reliance on Asian imports.
Government incentives under the 'Make in India' initiative have led to significant investments in forging infrastructure, positioning India as a key exporter.
September 2023
Expected to increase India's share in global trade, particularly in automotive and industrial components.