HS Code:
The 'Over 1,016 mm' category typically refers to products such as steel or aluminum sheets, plates, or other flat-rolled products with a width exceeding 1,016 mm. These products are widely used in industries like construction, automotive, shipbuilding, and heavy machinery manufacturing. Due to their industrial importance, this category is a significant segment of global metal trade, influenced by raw material availability, industrial demand, and geopolitical factors.
Total Trade Volume
USD 45.6 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
25% (imposed by certain countries under anti-dumping measures)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for high-strength steel in automotive sector
Increased exports from technologically advanced countries like Japan and South Korea due to demand for lightweight, durable materials.
2022
Shift towards sustainable production
Growing preference for low-carbon steel production is pushing European exporters to innovate, affecting pricing and competitiveness.
2021-2022
Overcapacity in China
Global price pressures due to excess supply from China, leading to trade disputes and protective tariffs in multiple regions.
2020-2022
The United States adjusted tariffs on steel imports under Section 232, replacing quotas with tariff-rate quotas for certain allies like the EU and Japan.
January 2022
Improved market access for EU and Japanese exporters, potentially increasing trade volumes by 5-10% in 2023.
The EU introduced CBAM, which imposes a carbon tax on high-emission steel imports starting in 2023, targeting countries with less stringent environmental regulations.
October 2022
Likely to increase costs for exporters from China and India, redirecting some trade flows to greener producers.
China reduced export tax rebates on certain steel products to curb overproduction and focus on domestic consumption.
May 2021
Slight reduction in Chinese export volumes, creating opportunities for competitors like South Korea and Japan.