HS Code:
The 'Threaded Articles' category, classified under HS Code 7318, includes screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers, and similar articles of iron or steel. These products are essential components in various industries, including construction, automotive, machinery, and manufacturing, due to their role in fastening and assembling structures and equipment. The global trade of threaded articles reflects industrial activity, infrastructure development, and manufacturing output worldwide.
Total Trade Volume
USD 50.3 billion
Data from 2022
Source
United Nations Comtrade Database
USD 12.5 billion
24.9% of total trade of total trade
Increasing
USD 6.8 billion
13.5% of total trade of total trade
Stable
USD 5.2 billion
10.3% of total trade of total trade
Increasing
USD 4.1 billion
8.2% of total trade of total trade
Stable
USD 3.9 billion
7.8% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12.5% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for high-strength threaded articles
Driven by growth in automotive and aerospace sectors requiring durable fastening solutions, leading to increased trade in specialized steel products.
2021-2022
Shift towards sustainable production
Manufacturers adopting eco-friendly materials and processes to meet regulatory standards, influencing supply chains and trade costs.
2020-2022
Regionalization of supply chains
Post-COVID-19 recovery has led to a focus on shorter, more resilient supply chains, boosting intra-regional trade in North America and Europe.
2021-2023
The European Union extended anti-dumping duties on certain iron and steel fasteners from China to prevent market distortion and protect local manufacturers.
February 2023
Increased costs for importers relying on Chinese threaded articles, potentially shifting demand to other suppliers like Taiwan or India.
The US Infrastructure Investment and Jobs Act, signed into law, has spurred demand for construction materials, including threaded articles for large-scale projects.
November 2021
Significant increase in imports and domestic production to meet infrastructure needs, benefiting exporters to the US market.
Updated international standards for threaded articles were introduced to ensure safety and compatibility in high-stress applications like automotive and aerospace.
June 2022
Manufacturers must adapt to comply with stricter quality controls, potentially increasing production costs but enhancing product reliability.