HS Code:
The category 'Of a thickness exceeding 1.25 mm' typically refers to steel or aluminum products, such as sheets, plates, or strips, classified under specific HS Codes (e.g., within chapters 72 or 76 of the Harmonized System). These products are widely used in construction, automotive, shipbuilding, and heavy machinery industries due to their durability and structural integrity. Global trade in this category is influenced by industrial demand, raw material availability, and trade policies including tariffs and quotas.
Total Trade Volume
USD 45.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 12.3 billion
27% of total trade of total trade
Increasing
USD 5.8 billion
13% of total trade of total trade
Stable
USD 4.9 billion
11% of total trade of total trade
Increasing
USD 3.7 billion
8% of total trade of total trade
Decreasing
USD 3.2 billion
7% of total trade of total trade
Increasing
Average Rate
6.5%
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 renewable energy sector
Increased need for thick steel plates in wind turbine manufacturing has boosted trade, particularly in Europe and Asia.
2021-2022
Shift towards sustainable production
Growing emphasis on low-carbon steel production is influencing trade patterns, with premiums for green steel products emerging.
2022
Supply chain disruptions
Post-pandemic logistics challenges and geopolitical tensions have led to regional trade shifts and higher shipping costs.
2020-2022
The United States adjusted its Section 232 tariffs on steel imports, replacing some tariffs with tariff-rate quotas for EU countries.
January 2022
Improved access for European exporters, leading to a 15% increase in EU-US trade for this category.
China removed export tax rebates on certain steel products to curb overproduction and focus on domestic decarbonization goals.
May 2021
Reduced Chinese exports by approximately 10%, creating opportunities for other exporters like South Korea and India.
The EU proposed the CBAM, which will impose carbon taxes on high-emission imports like steel starting in 2026.
July 2021
Potential cost increase for non-EU exporters, prompting investments in greener production technologies.