Overview This page contains the latest trade data of Iron Reductions. In 2021, Iron Reductions were the world's 467th most traded product, with a total trade of $6.47B. Between 2020 and 2021 the exports of Iron Reductions grew by 55.2%, from $4.17B to $6.47B. Trade in Iron Reductions represent 0.031% of total world trade.
Iron Reductions are a part of Iron & steel. They include Ferrous products from direct reduction of iron ore and Spongy iron lumps, pellets, etc > 99.94% pure.
Exports In 2021 the top exporters of Iron Reductions were Russia ($1.71B), Trinidad and Tobago ($796M), Bahrain ($720M), Oman ($602M), and Sweden ($546M).
Imports In 2021 the top importers of Iron Reductions were Saudi Arabia ($1.84B), United States ($850M), China ($800M), Oman ($486M), and Italy ($366M).
Tariffs In 2018 the average tariff for Iron Reductions was 3%, making it the 1154th lowest tariff using the HS4 product classification.
Ranking Iron Reductions ranks 921st in the Product Complexity Index (PCI).
Description Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms are used to make steel. Iron having a minimum purity by weight of 99.94% is used to make stainless steel.
Iron Reductions