About HS Code 711292
This HS code is dedicated to waste and scrap of platinum, including metal clad with platinum, but excludes sweepings containing other precious metals. Platinum, a member of the platinum group metals (PGMs), is highly valued for its catalytic properties, making its recovery from industrial and automotive sources economically vital. The primary importers and exporters are PGM refiners, automotive recyclers, and chemical companies. The trade in platinum scrap is a critical component of the global supply chain, reducing reliance on primary mining and supporting sustainability efforts. Due to its high value and strategic importance, the collection, processing, and secure transportation of platinum scrap are highly specialized activities, requiring advanced metallurgical techniques for efficient recovery.
Products Under This Code
Platinum catalytic converter scrap, platinum thermocouple wire, platinum laboratory crucibles, platinum jewelry scrap, platinum electrode waste, spent platinum catalysts, platinum dental alloys
Real World Examples
BASF (catalysts), Johnson Matthey (PGM recycling), Umicore (recycling), automotive scrap yards, laboratory equipment suppliers
Common Misclassification
Can be confused with 711230 if it's mixed precious metal waste or ash, or with 711299 if it's other PGMs like palladium or rhodium, not specifically platinum.
Products Classified Under 7112.92
Industry
This code belongs to the Gems & Jewelry industry.
Trade Overview
South Africa (primary producer), Germany, USA, and Japan are major players in platinum scrap trade and refining.
Frequently Asked Questions
What is HS code 711292?
HS code 711292 covers: Waste and scrap of precious metals; of platinum, including metal clad with platinum but excluding sweepings containing other precious metals. This HS code is dedicated to waste and scrap of platinum, including metal clad with platinum, but excludes sweepings containing other precious metals. Platinum, a member of the platinum group metals (PGMs), is highly valued for its catalytic properties, making its recovery from industrial and automotive sources economically vital. The primary importers and exporters are PGM refiners, automotive recyclers, and chemical companies. The trade in platinum scrap is a critical component of the global supply chain, reducing reliance on primary mining and supporting sustainability efforts. Due to its high value and strategic importance, the collection, processing, and secure transportation of platinum scrap are highly specialized activities, requiring advanced metallurgical techniques for efficient recovery.
What products fall under HS code 711292?
Platinum catalytic converter scrap, platinum thermocouple wire, platinum laboratory crucibles, platinum jewelry scrap, platinum electrode waste, spent platinum catalysts, platinum dental alloys
What are common misclassifications for HS code 711292?
Can be confused with 711230 if it's mixed precious metal waste or ash, or with 711299 if it's other PGMs like palladium or rhodium, not specifically platinum.
How is HS code 711292 structured?
HS code 711292 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 (92) specify the subheading. This code is standardized globally by the World Customs Organization.