HS Code:
Unwrought zinc, classified under HS Code 7901, refers to zinc that has not been shaped or processed into specific forms. This category includes zinc in ingots, slabs, or other primary forms, primarily used as a raw material in industries such as galvanizing, alloy production, and manufacturing of zinc-based products. It is a critical commodity in the global metals market, with demand driven by construction, automotive, and infrastructure sectors due to its corrosion-resistant properties.
Total Trade Volume
USD 10.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.8 billion
17.6% of total trade of total trade
Increasing
USD 1.5 billion
14.7% of total trade of total trade
Stable
USD 1.2 billion
11.8% of total trade of total trade
Increasing
USD 1.0 billion
9.8% of total trade of total trade
Stable
USD 0.8 billion
7.8% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Canada CETA)
Rising demand for galvanized steel
Increased consumption of unwrought zinc in construction and automotive sectors, driving trade volumes upward by 8% annually since 2020
2022
Shift towards sustainable mining
Growing preference for zinc sourced from environmentally certified mines, influencing trade patterns towards countries with stricter regulations
2021-2023
Fluctuating commodity prices
Price volatility in zinc markets due to geopolitical tensions and supply chain disruptions, affecting export revenues for major producers
2022
The European Union introduced provisional anti-dumping duties on unwrought zinc from specific countries to protect domestic producers, ranging from 5% to 10%.
March 2023
Expected to redirect trade flows towards non-affected exporters like Canada and Australia, potentially increasing their market share in the EU.
A significant zinc mine in India faced temporary closure due to environmental compliance issues, reducing export capacity.
June 2023
Short-term supply shortages anticipated, likely increasing prices and benefiting other exporters like Peru and South Korea.
Recent negotiations between the US and China included discussions on reducing tariffs on base metals, including unwrought zinc.
September 2023
Potential easing of trade barriers could boost Chinese zinc imports to the US, altering current trade dynamics.