HS Code:
The 'Other, not further worked than hot-rolled, not in coils' category under the Harmonized System (HS) typically refers to flat-rolled products of iron or non-alloy steel, which have undergone hot-rolling but have not been further processed or coiled. These products are often used in construction, automotive manufacturing, and heavy machinery industries due to their strength and versatility. This category excludes products that are cold-rolled, clad, plated, or coated, focusing solely on basic hot-rolled forms.
Total Trade Volume
USD 15.8 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Rising demand in infrastructure projects
Increased exports to developing economies with large-scale construction initiatives, particularly in Asia and Africa.
2021-2022
Shift towards sustainable production
Growing preference for steel produced with lower carbon emissions, influencing trade patterns towards countries with green technologies.
2022
Volatility in raw material prices
Fluctuations in iron ore and energy costs have led to unpredictable pricing, affecting long-term contracts and trade stability.
2020-2022
The European Union extended safeguard measures on steel imports, including hot-rolled products, to protect domestic producers from oversupply.
July 2023
Reduced import volumes from non-EU countries, potentially increasing prices within the region.
China reduced export tax rebates on certain steel products, including hot-rolled categories, to encourage domestic consumption and reduce carbon emissions.
May 2021
Slight decline in export volumes from China, creating opportunities for other exporters like South Korea and India.
The US Infrastructure Investment and Jobs Act has increased demand for steel products, including hot-rolled categories, for construction projects.
November 2021
Higher import demand in the US, benefiting major exporters like Japan and South Korea.