HS Code:
The 'Other, of rectangular (other than square) cross section' category under the Harmonized System (HS) Code typically pertains to specific metal products, such as bars, rods, or profiles, that have a rectangular cross-section but are not square. These products are often used in construction, manufacturing, and industrial applications. This category excludes items that fall under more specific classifications and focuses on miscellaneous rectangular cross-section items made of materials like steel, aluminum, or other alloys. The trade of these products is influenced by global demand for infrastructure development, industrial production, and raw material availability.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.8 billion
30.4% of total trade of total trade
Increasing
USD 1.9 billion
15.2% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.2 billion
9.6% of total trade of total trade
Stable
USD 900 million
7.2% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for lightweight materials
Increased use of aluminum rectangular profiles in automotive and aerospace industries, driving trade volume growth.
2021-2022
Shift towards sustainable production
Growing preference for eco-friendly and recycled materials in manufacturing, affecting supplier choices and pricing.
2020-2022
Infrastructure boom in Asia-Pacific
Higher demand for steel and alloy rectangular sections in construction projects, boosting exports from China and South Korea.
2019-2022
The United States imposed additional tariffs on steel products, including rectangular cross-section items, from certain countries to protect domestic industries.
March 2022
Increased costs for importers and potential shift in supply chains towards non-tariffed countries.
The European Union introduced stricter environmental regulations under the Green Deal, affecting the production and import of metal products with high carbon footprints.
July 2021
Higher compliance costs for exporters and a push towards greener production technologies.
China implemented export restrictions on certain metal products to prioritize domestic supply amidst rising global demand.
October 2022
Temporary reduction in export volumes, leading to price increases and supply shortages in dependent markets.