HS Code:
Stranded wire, under HS Code 7312, includes wires made of iron, steel, or other metals, which are twisted or braided together to form a single assembly. These products are widely used in industries such as construction, automotive, and electrical applications for their strength and flexibility. Stranded wire is essential for applications requiring durability and conductivity, including power transmission lines, fencing, and mechanical components.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.3 billion
25% of total trade of total trade
Increasing
USD 800 million
15% of total trade of total trade
Stable
USD 650 million
12.5% of total trade of total trade
Increasing
USD 400 million
7.7% of total trade of total trade
Increasing
USD 350 million
6.7% of total trade of total trade
Stable
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 renewable energy infrastructure
Increased need for stranded wire in wind and solar power installations has boosted trade, especially in Europe and North America.
2021-2022
Shift towards lightweight and high-strength materials
Manufacturers are innovating with aluminum and composite stranded wires, impacting traditional steel wire markets.
2020-2022
Supply chain disruptions due to geopolitical tensions
Trade restrictions and raw material shortages have led to price volatility and regional supply shifts.
2022
The European Union imposed provisional anti-dumping duties ranging from 19.7% to 31.2% on stranded wire imports from China to protect domestic manufacturers.
March 2023
Expected to reduce Chinese imports to the EU by 15-20%, shifting demand to other suppliers like Turkey and South Korea.
The US Infrastructure Investment and Jobs Act has allocated significant funding for power grid upgrades, increasing demand for stranded wire.
November 2021
US imports and domestic production are expected to rise by 10% annually through 2025.
Countries like Japan and Australia have introduced stricter recycling and sustainability standards for stranded wire production.
July 2022
Manufacturers face higher compliance costs, potentially increasing prices by 5-8% in the region.