HS Code:
The category 'With a maximum cross-sectional dimension of 18 mm or more' typically falls under specific Harmonized System (HS) codes related to metal products, wires, or cables (often within HS Chapter 73 for iron/steel products or Chapter 74 for copper products). This category includes items like steel wires, rods, or similar materials with a cross-sectional dimension of 18 mm or greater, used in construction, manufacturing, and industrial applications. These products are critical for infrastructure projects, automotive industries, and heavy machinery. Global trade in this category is influenced by raw material availability, industrial demand, and regional manufacturing capabilities.
Total Trade Volume
USD 12.5 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-Japan EPA)
Rising demand for high-strength steel wires in renewable energy projects
Increased exports from countries with advanced steel production technologies, such as Germany and Japan, to meet wind turbine and solar farm construction needs.
2021-2023
Shift toward sustainable production methods
Countries with stricter environmental regulations are imposing higher costs on non-compliant imports, benefiting producers with green certifications.
2022
Fluctuating raw material prices
Volatility in iron ore and scrap metal prices has led to unstable production costs, affecting trade margins especially in price-sensitive markets.
2020-2022
The European Union introduced provisional anti-dumping duties ranging from 17.3% to 31.2% on steel wire imports from China to protect domestic producers.
June 2023
Likely to reduce Chinese market share in the EU while increasing opportunities for other exporters like Turkey and India.
The US government's $1.2 trillion Infrastructure Investment and Jobs Act has spurred demand for steel products, including wires and rods with cross-sectional dimensions of 18 mm or more.
November 2021
Significant increase in imports from allied countries like Canada and South Korea to meet construction demands.
Ongoing disruptions due to geopolitical tensions and port congestion have delayed shipments of steel products, affecting project timelines globally.
Throughout 2022
Higher shipping costs and lead times have prompted buyers to source from regional suppliers, impacting long-distance exporters.