About HS Code 720690
This HS code encompasses primary forms of iron or non-alloy steel, excluding ingots and certain iron products. These are the foundational raw materials in the steel industry, representing the first solid shapes after molten steel casting, such as blooms, billets, and slabs. They are crucial intermediate products, not yet finished goods, traded extensively between steel mills, re-rollers, and foundries globally. Major steel-producing nations like China, India, Japan, and Russia are significant exporters, while countries with robust manufacturing sectors, particularly in Europe and North America, are key importers for further processing into finished steel products. Understanding the specific dimensions and chemical composition is vital for accurate classification and trade compliance, especially with evolving regulations like CBAM.
Products Under This Code
Steel billets, Steel blooms, Steel slabs, Continuous cast sections, Forging stock, Semi-finished steel for re-rolling
Real World Examples
ArcelorMittal steel billets, POSCO slabs, Nippon Steel blooms, Tata Steel semi-finished products
Common Misclassification
This code is often confused with 7203 (ferrous products obtained directly from iron ores) or 7207 (semi-finished products). The distinction lies in 'primary forms' being the initial solid shapes from molten steel, whereas 7207 covers more refined semi-finished products.
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.
Industry
This code belongs to the Metals & Metal Products industry.
Trade Overview
China, India, Japan, and Russia are major exporters, while the EU and US are significant importers for further processing.
Frequently Asked Questions
What is HS code 720690?
HS code 720690 covers: Iron or non-alloy steel; primary forms (excluding ingots and iron of heading no. 7203). This HS code encompasses primary forms of iron or non-alloy steel, excluding ingots and certain iron products. These are the foundational raw materials in the steel industry, representing the first solid shapes after molten steel casting, such as blooms, billets, and slabs. They are crucial intermediate products, not yet finished goods, traded extensively between steel mills, re-rollers, and foundries globally. Major steel-producing nations like China, India, Japan, and Russia are significant exporters, while countries with robust manufacturing sectors, particularly in Europe and North America, are key importers for further processing into finished steel products. Understanding the specific dimensions and chemical composition is vital for accurate classification and trade compliance, especially with evolving regulations like CBAM.
What products fall under HS code 720690?
Steel billets, Steel blooms, Steel slabs, Continuous cast sections, Forging stock, Semi-finished steel for re-rolling
What are common misclassifications for HS code 720690?
This code is often confused with 7203 (ferrous products obtained directly from iron ores) or 7207 (semi-finished products). The distinction lies in 'primary forms' being the initial solid shapes from molten steel, whereas 7207 covers more refined semi-finished products.
How is HS code 720690 structured?
HS code 720690 is a 6-digit subheading under the Harmonized System. The first 2 digits (72) identify the chapter, digits 3-4 (06) identify the heading, and digits 5-6 (90) specify the subheading. This code is standardized globally by the World Customs Organization.