HS Code:
The 'Other, of stainless steel' category under the Harmonized System (HS) Code typically includes miscellaneous stainless steel products not classified under specific subcategories. This may encompass items like stainless steel fittings, fasteners, wire, and other fabricated products used in various industries such as construction, automotive, and manufacturing. These products are valued for their corrosion resistance, durability, and strength, making them critical in applications requiring high hygiene standards or exposure to harsh environments.
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 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12.5% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in renewable energy sector
Increased use of stainless steel products in wind turbines and solar panel frameworks drives export growth, particularly in Europe and North America.
2021-2022
Shift towards sustainable production
Manufacturers adopting greener production methods to meet environmental regulations, influencing cost structures and trade competitiveness.
2020-2022
Growth in Asia-Pacific construction industry
Rapid urbanization and infrastructure projects in countries like India and Vietnam boost demand for stainless steel fittings and components.
2019-2022
The European Union introduced anti-dumping tariffs ranging from 8% to 19% on certain stainless steel imports from China to protect domestic producers.
March 2023
Likely to redirect Chinese exports to other markets like Southeast Asia, while increasing costs for EU importers.
The US government's infrastructure investment plan emphasizes the use of locally sourced materials, including stainless steel products, under 'Buy American' policies.
November 2022
Expected to increase domestic production and reduce reliance on imports, particularly from Asian countries.
The Regional Comprehensive Economic Partnership (RCEP) agreement reduces tariffs on stainless steel products among member countries, enhancing trade flows.
January 2022
Facilitates increased exports from China, Japan, and South Korea to other RCEP nations, potentially reshaping regional trade patterns.