HS Code:
The product category 'Of a thickness of 4.75 mm or more but not exceeding 10 mm' typically falls under HS Code 7208, which includes flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, hot-rolled, not clad, plated or coated. This category is widely used in industries such as construction, automotive, and manufacturing for structural components, shipbuilding, and heavy machinery. The thickness range makes these products suitable for applications requiring moderate strength and durability.
Total Trade Volume
Approximately $25 billion USD
Data from 2022
Source
United Nations Comtrade Database, World Trade Organization (WTO) Reports
$6.5 billion USD
26% of total trade of total trade
Increasing
$3.2 billion USD
13% of total trade of total trade
Stable
$2.8 billion USD
11% of total trade of total trade
Increasing
$2.1 billion USD
8% of total trade of total trade
Stable
$1.9 billion USD
7.5% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Rising demand in renewable energy infrastructure
Increased use in wind turbine manufacturing and solar panel frameworks has boosted demand for hot-rolled steel in this thickness range, especially in Europe and Asia.
2021-2023
Shift towards sustainable production
Growing emphasis on low-carbon steel production is influencing trade patterns, with countries like Japan and Germany gaining market share due to greener technologies.
2022-2023
Fluctuating raw material prices
Volatility in iron ore and coal prices has led to inconsistent pricing in the global market, affecting export competitiveness of smaller producers.
2020-2022
The European Union extended anti-dumping duties on hot-rolled steel products from China, citing unfair pricing practices that harm domestic producers.
March 2023
This has led to a redirection of Chinese exports to Southeast Asia and the Middle East, altering regional trade flows.
The US Infrastructure Investment and Jobs Act has increased demand for steel products in this category for bridges, roads, and public works projects.
November 2021
Higher imports into the US, particularly from South Korea and Japan, have been observed, alongside a push for 'Buy American' policies.
India announced plans to double its steel production capacity by 2030, focusing on export markets for hot-rolled products.
June 2022
This is expected to intensify competition in the Asian market, potentially lowering global prices in the medium term.