About HS Code 720310
Ferrous products obtained by direct reduction of iron ore, in lumps, pellets or similar forms, commonly known as Direct Reduced Iron (DRI) or sponge iron, fall under HS code 720310. This product is a crucial metallic raw material for electric arc furnaces (EAFs), serving as an alternative to scrap or pig iron. Its production is often more environmentally friendly than traditional blast furnace methods, making it attractive for 'green steel' initiatives. Major importers are steel-producing nations with a high proportion of EAFs, such as the USA, EU countries, and India. Exporters typically include countries with abundant natural gas reserves, which is often used as a reductant, like Russia, Venezuela, and Trinidad & Tobago. The trade is influenced by steel demand, scrap prices, and energy costs.
Products Under This Code
Hot Briquetted Iron (HBI), Cold Briquetted Iron (CBI), DRI pellets, DRI lumps, Sponge iron, Direct reduced iron fines
Real World Examples
ArcelorMittal's HBI, Cleveland-Cliffs' HBI, Essar Steel's DRI, Jindal Shadeed Iron & Steel's HBI
Common Misclassification
Can be confused with iron ore (2601) if not clearly specified as reduced, or with pig iron (7201) which is a different intermediate product with higher carbon content.
EU Regulatory Requirements
This product falls under the Carbon Border Adjustment Mechanism (CBAM). Importers to the EU must declare embedded carbon emissions and purchase CBAM certificates.
Products Classified Under 7203.10
Industry
This code belongs to the Metals & Metal Products industry.
Trade Overview
Major importers are steel-producing nations with EAFs like the USA, EU countries, and India; top exporters include countries with abundant natural gas for reduction, such as Russia, Venezuela, and Trinidad & Tobago.
Frequently Asked Questions
What is HS code 720310?
HS code 720310 covers: Ferrous products; obtained by direct reduction of iron ore, in lumps, pellets or similar forms. Ferrous products obtained by direct reduction of iron ore, in lumps, pellets or similar forms, commonly known as Direct Reduced Iron (DRI) or sponge iron, fall under HS code 720310. This product is a crucial metallic raw material for electric arc furnaces (EAFs), serving as an alternative to scrap or pig iron. Its production is often more environmentally friendly than traditional blast furnace methods, making it attractive for 'green steel' initiatives. Major importers are steel-producing nations with a high proportion of EAFs, such as the USA, EU countries, and India. Exporters typically include countries with abundant natural gas reserves, which is often used as a reductant, like Russia, Venezuela, and Trinidad & Tobago. The trade is influenced by steel demand, scrap prices, and energy costs.
What products fall under HS code 720310?
Hot Briquetted Iron (HBI), Cold Briquetted Iron (CBI), DRI pellets, DRI lumps, Sponge iron, Direct reduced iron fines
What are common misclassifications for HS code 720310?
Can be confused with iron ore (2601) if not clearly specified as reduced, or with pig iron (7201) which is a different intermediate product with higher carbon content.
How is HS code 720310 structured?
HS code 720310 is a 6-digit subheading under the Harmonized System. The first 2 digits (72) identify the chapter, digits 3-4 (03) identify the heading, and digits 5-6 (10) specify the subheading. This code is standardized globally by the World Customs Organization.