HS Code:
The category 'Of a width exceeding 4 mm but not exceeding 6.5 mm' typically falls under HS Code 7312.10, which covers stranded wire, ropes, and cables of iron or steel, not electrically insulated. This specific subcategory focuses on products with a width or diameter between 4 mm and 6.5 mm, commonly used in industries such as construction, automotive, and maritime for applications requiring moderate tensile strength and flexibility. These products are critical in manufacturing wire ropes for cranes, elevators, and suspension systems.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.8%
Highest Rate
12% (imposed by India on non-FTA partners)
Lowest Rate
0% (under various Free Trade Agreements, e.g., EU internal trade)
Rising demand in renewable energy sector
Increased use in wind turbine installations and solar panel mounting systems has boosted demand for durable wire ropes in this width range.
2021-2022
Shift towards high-strength, lightweight materials
Manufacturers are innovating with advanced steel alloys to meet industry needs for lighter yet stronger products, affecting trade volumes of traditional products.
2020-2022
Supply chain disruptions due to geopolitical tensions
Trade restrictions and raw material shortages have led to price volatility and shifts in sourcing strategies, particularly affecting exports from China.
2022
The European Union imposed provisional anti-dumping duties of up to 31% on imports of steel wire ropes from China, including products in the 4-6.5 mm width range, to protect domestic producers.
March 2023
Expected to reduce Chinese market share in the EU, potentially benefiting producers in South Korea and Turkey.
The US Infrastructure Investment and Jobs Act has allocated significant funding for construction projects, increasing demand for steel wire ropes in various applications.
November 2021
Likely to increase imports from key suppliers like Germany and South Korea, while encouraging domestic production.
Leading manufacturers in Germany and Japan have introduced corrosion-resistant coatings and high-tensile steel wires, improving product durability and performance.
June 2022
May shift market preference towards premium products, affecting price competitiveness of standard wire ropes from developing countries.