HS Code:
Brass plated wire, classified under HS Code 7217.30, refers to wire made of iron or non-alloy steel, plated or coated with brass. This product is widely used in industries such as automotive, construction, and manufacturing for applications like tire reinforcement, springs, and fasteners due to its strength, corrosion resistance, and conductivity. The global trade of brass plated wire is influenced by industrial demand, raw material availability, and regional manufacturing capabilities.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Decreasing
USD 100 million
8.3% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in automotive sector
Increased use of brass plated wire in tire reinforcement due to growth in electric vehicle production, driving trade volume up by 8% annually.
2021-2022
Shift towards sustainable production
Manufacturers adopting eco-friendly plating processes to meet stringent environmental regulations, affecting cost structures and trade competitiveness.
2020-2022
Regionalization of supply chains
Post-COVID supply chain disruptions have led to increased regional production hubs, reducing reliance on long-distance imports from Asia.
2021-2023
The European Union introduced provisional anti-dumping duties ranging from 8% to 12% on brass plated wire imports from China to protect domestic producers.
March 2023
Likely to shift trade flows towards other Asian exporters like South Korea and Japan, increasing costs for EU importers in the short term.
The United States-Mexico-Canada Agreement has facilitated tariff-free trade of brass plated wire among member countries, strengthening regional supply chains.
July 2022
Increased exports from Mexico to the US, with a reported 15% rise in trade volume within the region.
New brass plating technologies have been introduced by leading manufacturers in Japan, improving corrosion resistance and reducing production costs.
September 2022
Expected to enhance Japan's competitive edge in high-value markets, potentially increasing export volumes by 5-10% over the next two years.