HS Code:
The 'Other articles of copper' category (HS Code: 7419) includes a variety of copper products not covered under more specific headings, such as copper springs, chains, grill, netting, and other miscellaneous articles made of copper or copper alloys. These products are used in diverse applications ranging from industrial machinery components to household items and decorative goods. This category is significant in global trade due to copper's properties like high conductivity and corrosion resistance, making it essential in electrical, construction, and manufacturing sectors.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for copper in renewable energy applications
Increased trade volume as copper is critical for solar panels and wind turbines, driving exports from major producers like China and Germany
2021-2022
Fluctuating copper prices due to global supply chain disruptions
Price volatility affects trade margins, with exporters adjusting volumes to hedge risks, particularly impacting smaller economies
2022
Shift towards sustainable sourcing and recycling
Growing preference for recycled copper products influences trade patterns, benefiting countries with advanced recycling infrastructure like Japan and the EU
2020-2022
The United States revised tariffs on copper articles from China, increasing rates to counter alleged unfair trade practices and protect domestic manufacturers.
March 2023
Potential shift in trade flows as US importers may source from alternative countries like India or Mexico, affecting China's market share.
The European Union introduced stricter environmental regulations under the Green Deal, mandating sustainability certifications for copper imports.
January 2023
Exporters must adapt to compliance costs, potentially increasing prices but also opening opportunities for sustainable producers.
India announced incentives for local production of copper articles under the 'Make in India' initiative, aiming to reduce import dependency.
June 2022
Expected growth in India's export capacity over the next 5 years, potentially challenging established exporters like China.