Chapter · Section XV

Chapter 72: Iron and steel

72
  • 0%–50%UK
  • 0%–7%EU
  • 5%–30%Türkiye
  • 0%–10%USA
  • US$460.9bnWorld trade in 2024

29 headings make up chapter 72, part of section XV, base metals and articles of base metal.

In the UK Global Tariff, chapter 72 covers 593 tariff lines and the duty is between 0% and 50%. 311 of them are duty-free.

The EU Combined Nomenclature divides chapter 72 into 344 tariff lines; the duty is between 0% and 7% (average 0.2%). 321 of them are duty-free.

In the Turkish Customs Tariff Schedule, chapter 72 covers 785 tariff lines and the statutory rate is between 5% and 30%.

World trade in chapter 72 goods reached US$460.9bn in 2024, down 7.1% on 2023.

China was the largest exporter with 15.8% of the total, ahead of Germany.

The United States imported the most (US$34bn).

Duty rates compared

The Turkish schedule prints the statutory rate set under Customs Law 474. The rate applied at import is laid down in the Import Regime Decision and can be lower, or different by country of origin.

Headings 29

World trade in 2024

72 · US$460.9bn

Trade value (US$) no reported trade < US$36.4mUS$36.4m+US$653.6m+US$6.8bn+> US$15bn

Exports: 218
  1. China: US$72.9bn
  2. Germany: US$30.6bn
  3. Japan: US$29.2bn
  4. Indonesia: US$26.3bn
  5. South Korea: US$25.9bn
  6. United States: US$19.3bn
  7. France: US$15bn
  8. Belgium: US$15bn
  9. Italy: US$14.8bn
  10. Brazil: US$12.4bn
  11. Russia: US$12.3bn
  12. Netherlands: US$12.1bn
  13. India: US$11.4bn
  14. Türkiye: US$10.4bn
  15. Taiwan: US$9.1bn
  16. Canada: US$9.1bn
  17. Austria: US$8.9bn
  18. Spain: US$8.6bn
  19. Vietnam: US$8.1bn
  20. Sweden: US$7.8bn
  21. United Kingdom: US$7.3bn
  22. South Africa: US$6.8bn
  23. Malaysia: US$6.6bn
  24. Poland: US$5.8bn
  25. Finland: US$5.5bn
  26. Kazakhstan: US$5.2bn
  27. Slovakia: US$4.2bn
  28. Czechia: US$4.2bn
  29. Mexico: US$3.6bn
  30. Ukraine: US$3.4bn
  31. Oman: US$3bn
  32. Egypt: US$2.6bn
  33. Romania: US$2.2bn
  34. Luxembourg: US$2.2bn
  35. Australia: US$2.1bn
  36. United Arab Emirates: US$2.1bn
  37. Norway: US$2.1bn
  38. Thailand: US$2.1bn
  39. Portugal: US$1.8bn
  40. Denmark: US$1.6bn
  41. Slovenia: US$1.6bn
  42. Switzerland: US$1.3bn
  43. Singapore: US$1.2bn
  44. Hungary: US$1.2bn
  45. Hong Kong SAR China: US$1.1bn
  46. Saudi Arabia: US$1.1bn
  47. Bulgaria: US$928.1m
  48. Iran: US$925.4m
  49. Serbia: US$753.8m
  50. Lithuania: US$730.9m
  51. Algeria: US$717.8m
  52. Trinidad & Tobago: US$693.6m
  53. New Caledonia: US$692.1m
  54. Greece: US$680.1m
  55. Colombia: US$653.6m
  56. Chile: US$640.3m
  57. Bahrain: US$634.4m
  58. North Macedonia: US$485m
  59. Libya: US$468.6m
  60. Venezuela: US$463.4m

Top exporters

RankCountryValueShare
1 China US$72.9bn 15.8%
2 Germany US$30.6bn 6.6%
3 Japan US$29.2bn 6.3%
4 Indonesia US$26.3bn 5.7%
5 South Korea US$25.9bn 5.6%
6 United States US$19.3bn 4.2%
7 France US$15bn 3.3%
8 Belgium US$15bn 3.3%
9 Italy US$14.8bn 3.2%
10 Brazil US$12.4bn 2.7%

Top importers

RankCountryValueShare
1 United States US$34bn 7.4%
2 China US$30.3bn 6.6%
3 Germany US$25.7bn 5.6%
4 Türkiye US$23.1bn 5%
5 Italy US$21.4bn 4.6%
6 India US$17bn 3.7%
7 Mexico US$16.3bn 3.5%
8 Vietnam US$14bn 3%
9 South Korea US$14bn 3%
10 France US$12.3bn 2.7%

Chapter notes

Notes
Subheading notes
Additional note

Products classified here

Questions and answers

What is the HS code for iron and steel?

Iron and steel make up HS chapter 72, in section XV of the Harmonized System.

What is the import duty on iron and steel in the UK?

Under the UK Global Tariff, imports under 72 from countries without a preferential agreement are charged at 0% to 50%, depending on the line. Preferential rates, anti-dumping duties and VAT are not included.

What is the import duty on iron and steel in the EU?

Under the EU Combined Nomenclature, imports under 72 from countries without a preferential agreement are charged at 0% to 7%, depending on the line. Preferential rates, anti-dumping duties and VAT are not included.

Which country exports the most iron and steel?

China, with US$72.9bn in 2024 (15.8% of world exports).