About HS Code 720410
Ferrous waste and scrap of cast iron, under HS code 720410, represents a crucial secondary raw material in the global metals industry. This scrap is recycled from various sources, including discarded machinery, automotive parts, industrial castings, and municipal waste. It is primarily used by foundries for producing new cast iron products and by steel mills, particularly those operating electric arc furnaces, as a valuable input. The trade of cast iron scrap is a significant component of the circular economy, reducing the need for virgin iron ore and lowering energy consumption. Major importers are steel-producing nations like Turkey, India, and South Korea, while top exporters include developed economies with substantial industrial and consumer waste generation, such as the USA, UK, and Germany.
Products Under This Code
Cast iron borings, Cast iron turnings, Heavy breakable cast iron scrap, Light cast iron scrap, Automotive cast iron blocks, Municipal cast iron scrap, Cast iron pipe scrap
Real World Examples
ISRI 200 (Cast Iron Scrap), ISRI 201 (Cast Iron Scrap), ISRI 202 (Cast Iron Scrap), Shredded cast iron scrap
Common Misclassification
Can be confused with other types of ferrous scrap, such as carbon steel scrap (720441) or alloy steel scrap (720429), if the specific cast iron characteristics are not clearly identified.
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 7204.10
Industry
This code belongs to the Metals & Metal Products industry.
Trade Overview
Major importers are steel-producing nations like Turkey, India, and South Korea; top exporters include developed economies with significant industrial and consumer waste generation, such as the USA, UK, and Germany.
Frequently Asked Questions
What is HS code 720410?
HS code 720410 covers: Ferrous waste and scrap; of cast iron. Ferrous waste and scrap of cast iron, under HS code 720410, represents a crucial secondary raw material in the global metals industry. This scrap is recycled from various sources, including discarded machinery, automotive parts, industrial castings, and municipal waste. It is primarily used by foundries for producing new cast iron products and by steel mills, particularly those operating electric arc furnaces, as a valuable input. The trade of cast iron scrap is a significant component of the circular economy, reducing the need for virgin iron ore and lowering energy consumption. Major importers are steel-producing nations like Turkey, India, and South Korea, while top exporters include developed economies with substantial industrial and consumer waste generation, such as the USA, UK, and Germany.
What products fall under HS code 720410?
Cast iron borings, Cast iron turnings, Heavy breakable cast iron scrap, Light cast iron scrap, Automotive cast iron blocks, Municipal cast iron scrap, Cast iron pipe scrap
What are common misclassifications for HS code 720410?
Can be confused with other types of ferrous scrap, such as carbon steel scrap (720441) or alloy steel scrap (720429), if the specific cast iron characteristics are not clearly identified.
How is HS code 720410 structured?
HS code 720410 is a 6-digit subheading under the Harmonized System. The first 2 digits (72) identify the chapter, digits 3-4 (04) identify the heading, and digits 5-6 (10) specify the subheading. This code is standardized globally by the World Customs Organization.