# HS 720390 Spongy Ferrous Products And Iron Hav global trade...

Reported global trade in spongy ferrous products and iron having a minimum purity by weight of 99.94%, in lumps, pellets or similar forms reached $374.4M in 2024, with five-year annual growth of +0.8%.

## Annual trade evidence

| Year | Global trade | Year-on-year growth | 3-year growth |
| --- | --- | --- | --- |
| 2013 | $452.2M | -11.2% | +34.1% |
| 2014 | $237.7M | -47.4% | +10.7% |
| 2015 | $164.6M | -30.8% | -31.4% |
| 2016 | $231.4M | +40.6% | -20% |
| 2017 | $421.2M | +82% | +21% |
| 2018 | $522.6M | +24.1% | +47% |
| 2019 | $359.0M | -31.3% | +15.8% |
| 2020 | $509.6M | +42% | +6.6% |
| 2021 | $427.3M | -16.2% | -6.5% |
| 2022 | $479.5M | +12.2% | +10.1% |
| 2023 | $482.9M | +0.7% | -1.8% |
| 2024 | $374.4M | -22.5% | -4.3% |

## Leading buyer markets

| Buyer market | Latest imports | 5-year growth | Suppliers |
| --- | --- | --- | --- |
| Mexico | $109.5M | +18.4% | 14 |
| Austria | $77.5M | +523.2% | 13 |
| Afghanistan | $50.1M | +472.4% | 12 |
| Turkey | $45.4M | +3.7% | 6 |
| Indonesia | $19.3M | +29.1% | 9 |
| Italy | $16.6M | +61.8% | 21 |
| France | $13.1M | +23.2% | 18 |
| Saudi Arabia | $13.1M | -30.4% | 5 |
| Slovenia | $11.0M | +19.7% | 9 |
| Belgium | $10.5M | +36.6% | 7 |
| Brazil | $8.6M | +69.2% | 5 |
| USA | $7.8M | -2.9% | 15 |

_Source: reported merchandise trade data. Updated 2026-08-14._