About HS Code 711230
This HS code encompasses a broad category of waste and scrap derived from precious metals, including gold, silver, platinum, and palladium, as well as metals clad with these precious materials. It also specifically includes ash containing precious metal or precious metal compounds, highlighting the recovery aspect. This trade is crucial for the circular economy, enabling the recycling and reuse of valuable resources. Key players in this market are specialized precious metal refiners, industrial recyclers, and companies involved in processing electronic waste, catalytic converters, and dental scrap. The value of these goods is determined by the precious metal content, requiring sophisticated assaying and refining technologies. Environmental regulations and responsible sourcing are increasingly important considerations for importers and exporters in this sector, as the materials often originate from complex industrial processes or consumer waste streams.
Products Under This Code
Catalytic converter scrap, dental gold scrap, electronic waste containing gold, silver solder waste, platinum thermocouple scrap, palladium catalyst residue, gold-plated circuit board scrap, silver contact scrap
Real World Examples
Johnson Matthey (catalysts), Umicore (recycling), Heraeus (precious metals), dental labs, electronics recyclers
Common Misclassification
This code can be confused with more specific codes like 711291 (gold scrap) or 711292 (platinum scrap) if the waste is predominantly a single precious metal, or with 711299 if it's other precious metals but not in ash form.
Products Classified Under 7112.30
Industry
This code belongs to the Gems & Jewelry industry.
Trade Overview
Major importers and exporters include countries with advanced recycling infrastructure such as Germany, Belgium, Japan, and the USA.
Frequently Asked Questions
What is HS code 711230?
HS code 711230 covers: Waste and scrap of precious metal or of metal clad with precious metal; ash containing precious metal or precious metal compounds. This HS code encompasses a broad category of waste and scrap derived from precious metals, including gold, silver, platinum, and palladium, as well as metals clad with these precious materials. It also specifically includes ash containing precious metal or precious metal compounds, highlighting the recovery aspect. This trade is crucial for the circular economy, enabling the recycling and reuse of valuable resources. Key players in this market are specialized precious metal refiners, industrial recyclers, and companies involved in processing electronic waste, catalytic converters, and dental scrap. The value of these goods is determined by the precious metal content, requiring sophisticated assaying and refining technologies. Environmental regulations and responsible sourcing are increasingly important considerations for importers and exporters in this sector, as the materials often originate from complex industrial processes or consumer waste streams.
What products fall under HS code 711230?
Catalytic converter scrap, dental gold scrap, electronic waste containing gold, silver solder waste, platinum thermocouple scrap, palladium catalyst residue, gold-plated circuit board scrap, silver contact scrap
What are common misclassifications for HS code 711230?
This code can be confused with more specific codes like 711291 (gold scrap) or 711292 (platinum scrap) if the waste is predominantly a single precious metal, or with 711299 if it's other precious metals but not in ash form.
How is HS code 711230 structured?
HS code 711230 is a 6-digit subheading under the Harmonized System. The first 2 digits (71) identify the chapter, digits 3-4 (12) identify the heading, and digits 5-6 (30) specify the subheading. This code is standardized globally by the World Customs Organization.