HS Code:
The 'Other, in blocks, slabs or bars' category under the Harmonized System (HS) Code generally pertains to miscellaneous products that are processed or semi-processed into blocks, slabs, or bars, not elsewhere specified in other HS categories. This can include materials such as metals, minerals, or manufactured goods that are traded in bulk forms for further processing or industrial use. Due to the broad nature of this category, it often encompasses niche or specialized products with specific industrial applications.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
15% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Increased demand for sustainable materials
Shift towards eco-friendly production methods and recycled materials in blocks and slabs, influencing sourcing and pricing strategies.
2021-2022
Rising industrial automation
Growing need for precision-cut slabs and bars in automated manufacturing, boosting trade in high-quality materials.
2020-2022
Fluctuating raw material prices
Volatility in commodity markets affects the cost and availability of products in this category, impacting trade volumes.
2022
The European Union announced a reduction in tariffs on imported industrial slabs and bars under specific trade agreements to boost manufacturing post-pandemic recovery.
March 2023
Expected to increase imports from Asian and North American exporters by 10-15% in the next fiscal year.
China imposed temporary export restrictions on certain raw material blocks to prioritize domestic industrial needs amid global supply chain disruptions.
October 2022
Led to a 5% reduction in global supply, causing price hikes and shifts in sourcing to other countries like India and Brazil.
The United States initiated an anti-dumping investigation into imports of specific metal bars and slabs from select countries, citing unfair trade practices.
July 2023
Potential for increased tariffs or quotas, which could redirect trade flows to alternative markets.