Heading · Chapter 72

7203

7203: Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having a minimum purity by weight of 99,94 %, in lumps, pellets or similar forms

Heading 7203 is divided into 2 six-digit subheadings and sits in chapter 72, iron and steel.

Duty rates compared

Subheadings 2

EU: imports by month

last 12 months€481m-30% · previous 12 months
Average import price€0.28 per kg
Jan 2024: €96.5mFeb 2024: €68.8mMar 2024: €35.6mApr 2024: €93.8mMay 2024: €54.8mJun 2024: €58.8mJul 2024: €113.9mAug 2024: €46.3mSept 2024: €54.4mOct 2024: €51.9mNov 2024: €68.4mDec 2024: €43.6mJan 2025: €53.3mFeb 2025: €79.1mMar 2025: €53.2mApr 2025: €66.5mMay 2025: €68.9mJun 2025: €39.5mJul 2025: €52.3mAug 2025: €55.4mSept 2025: €33.3mOct 2025: €53.8mNov 2025: €52.4mDec 2025: €74.4mJan 2026: €23.7mFeb 2026: €21mMar 2026: €44.8mApr 2026: €48.4mMay 2026: €26.5mJun 2026: €32mJul 2026: €42.3mAug 2026: €28.4m 202420252026
Data up to August 2026 (provisional) · Monthly data: Eurostat Comext (CC BY 4.0), HMRC (OGL v3.0)

World trade in 2024

7203 · US$5bn

Trade value (US$) no reported trade < US$335kUS$335k+US$13m+US$105m+> US$667m

Exports: 94
  1. Russia: US$875m
  2. Oman: US$791m
  3. Trinidad & Tobago: US$667m
  4. United States: US$587m
  5. India: US$494m
  6. Libya: US$263m
  7. Sweden: US$238m
  8. Malaysia: US$237m
  9. Venezuela: US$105m
  10. Qatar: US$66m
  11. Belgium: US$66m
  12. Iran: US$57m
  13. Bahrain: US$50m
  14. Poland: US$49m
  15. China: US$44m
  16. Algeria: US$40m
  17. United Arab Emirates: US$39m
  18. Brazil: US$34m
  19. France: US$19m
  20. Italy: US$16m
  21. Canada: US$16m
  22. Uganda: US$13m
  23. South Africa: US$11m
  24. Uzbekistan: US$9m
  25. Angola: US$9m
  26. Japan: US$8m
  27. Austria: US$5m
  28. Netherlands: US$4m
  29. Spain: US$4m
  30. Kazakhstan: US$3m
  31. United Kingdom: US$3m
  32. Kuwait: US$3m
  33. Germany: US$2m
  34. Côte d’Ivoire: US$2m
  35. South Korea: US$2m
  36. Egypt: US$1m
  37. Czechia: US$1m
  38. Romania: US$1m
  39. Taiwan: US$914k
  40. Denmark: US$816k
  41. Burkina Faso: US$470k
  42. Greece: US$412k
  43. Bolivia: US$356k
  44. Australia: US$335k
  45. Hungary: US$286k
  46. Bulgaria: US$235k
  47. Singapore: US$216k
  48. Thailand: US$215k
  49. Lithuania: US$204k
  50. Portugal: US$195k
  51. Norway: US$172k
  52. Finland: US$149k
  53. Türkiye: US$149k
  54. North Korea: US$120k
  55. Zimbabwe: US$102k
  56. Slovakia: US$77k
  57. Ghana: US$62k
  58. Senegal: US$50k
  59. Georgia: US$47k
  60. Slovenia: US$41k

Top exporters

RankCountryValueShare
1 Russia US$875m 18.1%
2 Oman US$791m 16.3%
3 Trinidad & Tobago US$667m 13.8%
4 United States US$587m 12.1%
5 India US$494m 10.2%
6 Libya US$263m 5.4%
7 Sweden US$238m 4.9%
8 Malaysia US$237m 4.9%
9 Venezuela US$105m 2.2%
10 Qatar US$66m 1.4%

Top importers

RankCountryValueShare
1 Saudi Arabia US$1bn 22.5%
2 United States US$673m 13.9%
3 Türkiye US$375m 7.7%
4 Nepal US$309m 6.4%
5 Germany US$245m 5.1%
6 Italy US$234m 4.8%
7 Austria US$222m 4.6%
8 India US$186m 3.9%
9 Mexico US$184m 3.8%
10 Vietnam US$128m 2.6%

Recent rule changes mentioning this code

Acts whose text cites this code or its heading. Check the act itself: a code can be cited for reasons other than a change of its duty.

  1. GB Sanctions · Applies from:

    The Iran (Sanctions) (Amendment) Regulations 2026

    S.I. 2026/983 · Source: legislation.gov.uk

  2. EU Sanctions · Applies from:

    Council Regulation (EU) 2026/759 of 30 March 2026 amending Regulation (EU) No 267/2012 concerning restrictive measures against Iran and repealing Regulation (EU) No 961/2010

    CELEX 32026R0759 · Source: eur-lex.europa.eu

Rule changes →

The UK Global Tariff divides heading 7203 into 2 tariff lines; the duty is duty-free.

In the EU Combined Nomenclature, heading 7203 covers 2 tariff lines and the duty is duty-free.

The Turkish Customs Tariff Schedule divides heading 7203 into 2 tariff lines; the duty is duty-free.

In the Harmonized Tariff Schedule of the United States, heading 7203 covers 2 tariff lines and the duty is duty-free.

The Customs Tariff of Canada divides heading 7203 into 2 tariff lines; the duty is duty-free.

In the Mexican Tariff (TIGIE), heading 7203 covers 2 tariff lines and the duty is between 0% and 35%. 1 of them is duty-free.

The Brazilian Tariff (NCM/TEC) divides heading 7203 into 2 tariff lines; the duty is duty-free.

In the Argentine Tariff (NCM-SIM), heading 7203 covers 2 tariff lines and the duty is duty-free.

The Customs Tariff of Peru divides heading 7203 into 2 tariff lines; the duty is duty-free.

In the Working Tariff Document of New Zealand, heading 7203 covers 2 tariff lines and the duty is duty-free.

The Customs Tariff Schedules of Japan divides heading 7203 into 2 tariff lines; the duty is duty-free.

In the Customs Import Tariff of Taiwan, heading 7203 covers 3 tariff lines and the duty is duty-free.

The GCC Common Customs Tariff divides heading 7203 into 2 tariff lines; the duty is 5%.

In the Swiss Customs Tariff (Tares), heading 7203 covers 2 tariff lines and the duty is duty-free.

The Customs Tariff of Norway divides heading 7203 into 2 tariff lines; the duty is duty-free.

In the Customs Tariff of North Macedonia, heading 7203 covers 2 tariff lines and the duty is 2%.

The ECOWAS Common External Tariff (Nigeria) divides heading 7203 into 2 tariff lines; the duty is duty-free.

In 2024, countries exported heading 7203 goods worth US$5bn (−7.3% year on year).

The largest exporter was Russia (US$875m), followed by Oman.

The biggest buyer was Saudi Arabia, with imports of US$1bn.

The United Kingdom ranked 31st among 94 exporters with US$3m.

The United Kingdom imported US$2m.

Legal notes

Notes

Products classified here

Questions and answers

What is the HS code for ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having a minimum purity by weight of 99,94 %, in lumps, pellets or similar forms?

Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having a minimum purity by weight of 99,94 %, in lumps, pellets or similar forms fall under HS heading 7203, part of chapter 72, in section XV of the Harmonized System.

What is the import duty on ferrous products obtained by direct reduction of… in the UK?

Under the UK Global Tariff, imports under 7203 from countries without a preferential agreement are free of duty. Preferential rates, anti-dumping duties and VAT are not included.

What is the import duty on ferrous products obtained by direct reduction of… in the EU?

Under the EU Combined Nomenclature, imports under 7203 from countries without a preferential agreement are free of duty. Preferential rates, anti-dumping duties and VAT are not included.

Which country exports the most ferrous products obtained by direct reduction of…?

Russia, with US$875m in 2024 (18.1% of world exports).

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