HS Code:
The 'Of a thickness not exceeding 5 mm' category typically refers to flat-rolled products of iron, non-alloy steel, or other metals under HS Code 7209 or related codes (specific subheading required for precision). These products are used extensively in industries such as construction, automotive, and manufacturing for applications requiring thin metal sheets. This category includes cold-rolled or hot-rolled steel sheets and plates with a thickness not exceeding 5 mm, often valued for their versatility and strength-to-weight ratio.
Total Trade Volume
USD 25.6 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
25% (imposed by certain developing countries on imports to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Increased demand for lightweight materials in automotive sector
Boosts trade of thin steel sheets for vehicle manufacturing, especially in electric vehicle production
2022
Shift towards sustainable production methods
Growing preference for steel produced with lower carbon footprints, affecting supplier selection
2021-2022
Rising raw material costs
Increases in iron ore and energy prices have led to higher production costs, impacting export prices
2022
The European Union introduced anti-dumping tariffs ranging from 10-20% on steel sheets from China and South Korea to curb market distortions.
March 2023
Likely to reduce import volumes from affected countries, redirecting trade flows to other regions.
The United States extended its Section 232 tariffs on steel imports but provided exemptions for certain allies under quota agreements.
January 2023
Continues to limit imports while encouraging domestic production; trade partners seek alternative markets.
China reduced export tax rebates for steel products to focus on domestic supply and environmental goals.
May 2021
Reduced export competitiveness of Chinese steel, benefiting competitors like South Korea and Japan.