HS Code:
Pig iron and spiegeleisen in pigs, blocks, or other primary forms (HS Code: 7201) are crude forms of iron produced from iron ore in a blast furnace. Pig iron is the intermediate product of smelting iron ore with a high-carbon fuel such as coke, usually with limestone as a flux. Spiegeleisen is a form of pig iron containing a high percentage of manganese, used in steelmaking to introduce manganese and remove impurities. These products are primarily used as raw materials in the production of steel and cast iron. This category does not include further processed or refined iron products.
Total Trade Volume
45.3 million metric tons
Data from 2022
Source
United Nations Comtrade Database / International Trade Centre (ITC)
8.1 million metric tons
17.9% of total trade of total trade
Increasing
7.5 million metric tons
16.6% of total trade of total trade
Stable
6.2 million metric tons
13.7% of total trade of total trade
Decreasing
4.8 million metric tons
10.6% of total trade of total trade
Increasing
3.9 million metric tons
8.6% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU Single Market or USMCA)
Rising demand for steel in infrastructure projects
Increased demand for pig iron as a raw material, particularly in Asia-Pacific and Middle East regions, driven by urbanization and industrial growth.
2021-2022
Shift towards sustainable production methods
Growing pressure on producers to adopt green technologies, such as hydrogen-based reduction, impacting production costs and trade competitiveness.
2022
Geopolitical disruptions affecting supply chains
Conflicts such as the Russia-Ukraine war have disrupted supply from key exporters, leading to price volatility and shifts in trade routes.
2022
The European Union imposed anti-dumping duties of up to 35% on pig iron imports from Russia to protect domestic producers from unfair pricing practices.
June 2023
Reduction in Russian pig iron exports to EU markets, potential increase in prices, and opportunities for alternative suppliers like Brazil and India.
Major Brazilian producers announced investments in expanding blast furnace capacities to meet growing global demand for pig iron.
March 2023
Increased export potential for Brazil, likely stabilizing global supply amidst disruptions in Eastern Europe.
China, a major consumer of pig iron for steelmaking, reported a slowdown in construction and manufacturing, reducing import demand.
August 2023
Potential oversupply in global markets, downward pressure on prices, and redirection of exports to other regions like Southeast Asia.