HS Code:
The 'Other Copper Alloys' category (HS Code: 7405) encompasses a variety of copper alloys excluding those specifically classified under other HS codes such as brass, bronze, or cupronickel. These alloys are typically used in specialized industrial applications including electrical components, marine equipment, and high-strength machinery due to their unique properties like corrosion resistance and conductivity. This category includes master alloys of copper used for further alloying processes in metallurgical industries.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 250 million
20.8% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 180 million
15.0% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Increased demand for copper alloys in renewable energy sector
Driven by the use of copper alloys in wind turbine components and solar panel connectors, boosting trade volume by 10% annually
2021-2022
Shift towards sustainable mining and recycling
Growing emphasis on recycled copper alloys to meet environmental regulations, affecting raw material sourcing patterns
2020-2022
Technological advancements in alloy compositions
Development of high-performance alloys for aerospace and automotive industries, increasing export potential for innovating countries
2019-2022
The European Union introduced anti-dumping tariffs of up to 10% on other copper alloys from specific Asian countries to protect domestic producers.
March 2023
Expected to shift trade flows towards other regions, potentially increasing costs for EU importers by 5-7%.
A new bilateral agreement reduced tariffs on other copper alloys from 7% to 3%, facilitating smoother trade between the two nations.
January 2023
Likely to increase US imports from China by 8-10% in the next fiscal year.
Japan announced a breakthrough in recycling technology for copper alloys, reducing production costs by 15%.
June 2022
Enhances Japan's competitive edge in exports, potentially increasing its market share by 3-5%.