HS Code:
The category 'With a diameter of 1.52 mm or more but less than 5.1 mm' typically refers to specific types of wire, rods, or similar products made of metal or other materials, often classified under the Harmonized System (HS) Code related to iron, steel, or other base metals (e.g., HS Code 7217 for steel wire or similar). These products are widely used in manufacturing, construction, and industrial applications, including as reinforcement materials, fasteners, or components in machinery. The precise HS Code is not provided in the query, but this analysis assumes it falls under a relevant subcategory for such dimensions. Global trade in this category is driven by industrial demand, infrastructure projects, and manufacturing output in key economies.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand in renewable energy sector
Increased need for wire products in wind turbine and solar panel manufacturing has boosted trade volumes by 10% annually in key markets.
2021-2022
Shift towards sustainable production
Manufacturers are adopting low-carbon production methods, influencing trade preferences for environmentally certified products.
2022
Supply chain disruptions
Global shipping delays and raw material shortages have led to a 5% increase in product prices, affecting trade flows.
2021-2022
The European Union introduced a revised tariff quota system for steel wire products to protect domestic manufacturers from cheap imports.
January 2023
Expected to reduce import volumes from non-EU countries by 8-10% in 2023.
The US Infrastructure Investment and Jobs Act has increased domestic demand for steel wire and related products for construction projects.
November 2021
Led to a 15% surge in imports from allied countries like Canada and Mexico.
China reduced export tax rebates for certain steel products, including wire in this diameter range, to focus on domestic supply.
May 2022
Resulted in a temporary 5% drop in export volumes, shifting market share to other exporters like South Korea.