HS Code:
Phosphor bronze, classified under HS Code 7403.29, is a copper alloy containing tin and phosphorus, known for its high strength, corrosion resistance, and excellent electrical conductivity. It is widely used in manufacturing springs, electrical connectors, fasteners, and marine hardware due to its durability and resistance to wear. This category falls under the broader classification of copper alloys (excluding master alloys) and is a critical material in industries such as electronics, automotive, and marine engineering. Global trade in phosphor bronze is influenced by industrial demand, raw material availability, and economic conditions in key manufacturing hubs.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$280 million USD
23.3% of total trade of total trade
Increasing
$240 million USD
20.0% of total trade of total trade
Stable
$180 million USD
15.0% of total trade of total trade
Increasing
$150 million USD
12.5% of total trade of total trade
Increasing
$90 million USD
7.5% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Growing demand in renewable energy sector
Increased use of phosphor bronze in wind turbine components and solar panel connectors has boosted trade volumes by 8% annually since 2020.
2022
Shift towards sustainable production
Manufacturers are adopting greener production methods to meet regulatory standards, influencing trade dynamics and increasing costs by 5-7%.
2021-2022
Rising raw material costs
Fluctuations in copper and tin prices have led to a 10% increase in phosphor bronze prices, affecting trade competitiveness in price-sensitive markets.
2022
The European Union introduced new regulations requiring lower carbon footprints for imported copper alloys, including phosphor bronze, to align with the EU Green Deal.
June 2023
Exporters to the EU may face higher compliance costs, potentially reducing trade volumes by 3-5% in the short term unless sustainable practices are adopted.
A revised trade agreement between the US and China reduced tariffs on certain copper alloys, including phosphor bronze, from 7.5% to 4% as part of broader negotiations.
March 2023
This has led to a projected 6% increase in phosphor bronze exports from China to the US in 2023, benefiting manufacturers in both regions.
Major Japanese manufacturers announced investments of over $100 million to expand phosphor bronze production to meet growing demand in the electronics sector.
September 2022
This is expected to solidify Japan’s position as a leading exporter, potentially increasing its global market share by 2-3% over the next five years.