HS Code:
The category under HS Code 7310 includes tanks, casks, drums, cans, boxes, and similar containers made of iron or steel, with a capacity not exceeding 300 liters. These containers are used for storing or transporting various materials (excluding compressed or liquefied gas) and can be lined or heat-insulated but are not fitted with mechanical or thermal equipment. This category is crucial in industries such as food and beverage, chemicals, and manufacturing, where durable and safe storage solutions are required. The global trade of these products reflects industrial demand, raw material availability, and manufacturing capabilities across countries.
Total Trade Volume
USD 3.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Rising demand for sustainable packaging
Increased preference for recyclable iron and steel containers over plastic alternatives, boosting trade volumes in regions with strict environmental regulations.
2021-2023
Growth in e-commerce and logistics
Higher demand for durable steel containers for safe transportation of goods, particularly in Asia-Pacific and North America.
2020-2022
Fluctuations in raw material prices
Volatility in steel prices due to geopolitical tensions and supply chain disruptions has led to inconsistent production costs and trade margins.
2022-2023
The European Union introduced provisional anti-dumping duties on iron and steel containers from China to curb unfair pricing practices and protect local manufacturers.
March 2023
This has led to a potential shift in trade flows, with buyers in the EU exploring alternative suppliers from countries like Turkey and India.
The United States-Mexico-Canada Agreement (USMCA) has reduced tariffs on steel containers within the region, facilitating smoother trade among member countries.
January 2023
Increased trade volume between the US, Canada, and Mexico, with a notable rise in US exports to Mexico.
Countries like Japan and South Korea have introduced stricter environmental standards for steel container production, emphasizing recycling and reduced carbon footprints.
July 2023
Manufacturers are investing in greener technologies, which may temporarily increase costs but are expected to attract eco-conscious markets in the long term.