Heading · Section XV

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

7203
  • FreeUK
  • FreeEU
  • 5%Türkiye
  • FreeUSA
  • US$4.8bnWorld trade in 2024

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

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 statutory rate is 5%.

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

In 2024, countries exported heading 7203 goods worth US$4.8bn (−7.3% year on year).

The largest exporter was Russia (US$875.5m), followed by Oman.

The biggest buyer was Saudi Arabia, with imports of US$1.1bn.

The United Kingdom ranked 31st among 94 exporters with US$2.6m.

The United Kingdom imported US$1.5m.

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.

Subheadings 2

World trade in 2024

7203 · US$4.8bn

Trade value (US$) no reported trade < US$335.3kUS$335.3k+US$12.5m+US$105.5m+> US$667m

Exports: 94
  1. Russia: US$875.5m
  2. Oman: US$791.1m
  3. Trinidad & Tobago: US$667m
  4. United States: US$587.4m
  5. India: US$494.2m
  6. Libya: US$263.5m
  7. Sweden: US$237.8m
  8. Malaysia: US$236.6m
  9. Venezuela: US$105.5m
  10. Qatar: US$66.5m
  11. Belgium: US$65.7m
  12. Iran: US$57.1m
  13. Bahrain: US$49.6m
  14. Poland: US$48.8m
  15. China: US$43.7m
  16. Algeria: US$39.7m
  17. United Arab Emirates: US$38.6m
  18. Brazil: US$33.5m
  19. France: US$18.9m
  20. Italy: US$16.4m
  21. Canada: US$16.3m
  22. Uganda: US$12.5m
  23. South Africa: US$10.9m
  24. Uzbekistan: US$9.1m
  25. Angola: US$8.9m
  26. Japan: US$8.3m
  27. Austria: US$5m
  28. Netherlands: US$3.9m
  29. Spain: US$3.6m
  30. Kazakhstan: US$2.9m
  31. United Kingdom: US$2.6m
  32. Kuwait: US$2.6m
  33. Germany: US$2.4m
  34. Côte d’Ivoire: US$2.1m
  35. South Korea: US$1.9m
  36. Egypt: US$1.3m
  37. Czechia: US$1.3m
  38. Romania: US$1.2m
  39. Taiwan: US$913.8k
  40. Denmark: US$816.1k
  41. Burkina Faso: US$470.4k
  42. Greece: US$411.5k
  43. Bolivia: US$355.5k
  44. Australia: US$335.3k
  45. Hungary: US$286.2k
  46. Bulgaria: US$235.3k
  47. Singapore: US$216.3k
  48. Thailand: US$214.5k
  49. Lithuania: US$203.7k
  50. Portugal: US$194.5k
  51. Norway: US$172.1k
  52. Finland: US$149.4k
  53. Türkiye: US$149k
  54. North Korea: US$120.4k
  55. Zimbabwe: US$102.4k
  56. Slovakia: US$77.2k
  57. Ghana: US$61.6k
  58. Senegal: US$50.2k
  59. Georgia: US$46.5k
  60. Slovenia: US$40.5k

Top exporters

RankCountryValueShare
1 Russia US$875.5m 18.1%
2 Oman US$791.1m 16.3%
3 Trinidad & Tobago US$667m 13.8%
4 United States US$587.4m 12.1%
5 India US$494.2m 10.2%
6 Libya US$263.5m 5.4%
7 Sweden US$237.8m 4.9%
8 Malaysia US$236.6m 4.9%
9 Venezuela US$105.5m 2.2%
10 Qatar US$66.5m 1.4%

Top importers

RankCountryValueShare
1 Saudi Arabia US$1.1bn 22.5%
2 United States US$672.8m 13.9%
3 Türkiye US$374.6m 7.7%
4 Nepal US$308.6m 6.4%
5 Germany US$244.6m 5.1%
6 Italy US$234.3m 4.8%
7 Austria US$221.8m 4.6%
8 India US$186.4m 3.9%
9 Mexico US$184.2m 3.8%
10 Vietnam US$128m 2.6%

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$875.5m in 2024 (18.1% of world exports).