Ferromanganese is an alloy that contains iron and manganese, with carbon content ranging from more than 1 percent to not more than 2 percent. It is widely used in the steel industry as a deoxidizing agent and to add strength and durability to steel products.
HS Code 72021950 specifically covers ferromanganese with the mentioned carbon content. This code is used for the classification and identification of this particular product in international trade.
When it comes to international trade, countries have different trade barriers and market regulations. However, when a country lowers a trade barrier or opens up a market, it must do so for the same goods or services from all its trading partners. This concept is known as the Most Favored Nation (MFN) principle. The bound or MFN duty rate for HS Code 72021950 is 1.4%.
The quantity unit for this product is kilograms (KG). This unit is used to measure the weight of the ferromanganese being imported or exported.
There are several special tariff preference programs that provide favorable treatment for the import of HS Code 72021950. These programs allow certain countries to import the product at a lower or duty-free rate. The countries included in these programs for this specific HS code are:
When it comes to the importing of HS Code 72021950 into the United States, the following states are known to be importers:
On the other hand, Nevada is an exporting state for this product.
HS Code 72021950 refers to ferromanganese containing more than 1 percent but not more than 2 percent of carbon. This alloy is widely used in the steel industry and is subject to specific trade regulations and tariff preferences. Understanding the HS code and its associated data is essential for importers, exporters, and traders involved in the global trade of ferromanganese.