HS Code for Iron Ore Fines 62% Fe (HS 2601.11)
Iron ore fines are HS 2601.11 (non-agglomerated). The global reference is Platts IODEX 62% Fe CFR North China; other indices include the SGX iron ore futures. Australian and Brazilian producers dominate. Quality drives basis: 62% Fe fines is standard, 65% Fe premium fines command a differential, 58% low-grade discount.
Sample 6-digit codes
| Code | Description |
|---|---|
| 2601.11 | Iron ores and concentrates, non-agglomerated |
| 2601.12 | Iron ores and concentrates, agglomerated (pellets, sinter feed) |
| 2601.20 | Roasted iron pyrites |
Typical import duty by market
| Market | Duty |
|---|---|
| China | 0% Plus 13% VAT; world's largest importer. |
| European Union | 0% |
| Japan | 0% |
| South Korea | 0% |
| India | 0-30% (export duty) India imposes export duty on iron ore fines to conserve for domestic steel. |
Numerical Example: 170,000 MT PBF (Pilbara Blend Fines, 61.5% Fe), FOB Port Hedland USD 92/MT, CFR Qingdao
170,000 MT PBF (Pilbara Blend Fines, 61.5% Fe), FOB Port Hedland USD 92/MT, CFR Qingdao. Run your own numbers in the Import Duty & Tax calculator.
- · IMSBC Code Group A - iron ore fines can liquefy; TML (Transportable Moisture Limit) certification mandatory before loading.
- · Platts IODEX methodology - CFR North China 62% Fe, 3-4% Al2O3, 4.5% SiO2, penalties/premia for deviations.
- · SGX Iron Ore Futures - most-liquid financial hedge.
- · China domestic Chinese Steel Index (CSI) - alternative reference.
- · Australia (Pilbara - Rio Tinto, BHP, FMG, Roy Hill)
- · Brazil (Vale)
- · South Africa (Kumba)
- · Canada (IOC)
- · Ukraine
Frequently asked questions
Fines (2601.11) - <=6.3mm, sinter feed. Lump (2601.11) - 6.3-30mm, direct-charge to blast furnace. Pellets (2601.12) - agglomerated 6-16mm balls, higher premium (usually USD 40-70/t over fines index).
Iron ore fines can flow like a liquid if moisture exceeds the TML during voyage - a leading cause of bulk-carrier losses. Shippers must certify moisture < TML at loading. Master may refuse to load if moisture reading uncertain.
Import duty and tax by destination market
Typical MFN duty, consumption tax and the tax base applied to metals (HS 2601.11) in each market we cover. Rates are indicative at the 6-digit line | confirm the national 8/10-digit code with your broker.
| Market | Duty | Consumption tax | Tax base | Tax as % of CIF |
|---|---|---|---|---|
| India | 2.5% | IGST 18% | Assessable value + duty | 21.2% |
| United Arab Emirates | 0% | VAT 5% | CIF + duty | 5.0% |
| Saudi Arabia | 0% | VAT 15% | CIF + duty | 15.0% |
| Singapore | 0% | GST 9% | CIF + duty | 9.0% |
| China | 0% | VAT 13% | CIF + duty | 13.0% |
| United States | 0% | Federal VAT 0% | CIF | 0.3% |
| United Kingdom | 0% | VAT 20% | CIF + duty | 20.0% |
| Germany | 0% | USt 19% | CIF + duty | 19.0% |
| Netherlands | 0% | BTW 21% | CIF + duty | 21.0% |
| Vietnam | 0% | VAT 10% | CIF + duty | 10.0% |
| Türkiye | 0% | KDV 20% | CIF + duty | 20.0% |
| Japan | 0% | JCT 10% | CIF + duty | 10.0% |
| South Korea | 0% | VAT 10% | CIF + duty | 10.0% |
| Brazil | 0% | IPI+PIS/COFINS+ICMS 32% | CIF + duty | 32.0% |
| Indonesia | 0% | PPN 11% | CIF + duty | 13.5% |
| Mexico | 0% | IVA 16% | CIF + duty | 16.9% |
| Egypt | 0% | VAT 14% | CIF + duty | 14.0% |
| Nigeria | 0% | VAT 7.5% | CIF + duty | 9.1% |
| South Africa | 0% | VAT 15% | Assessable value + duty | 16.5% |
| Australia | 0% | GST 10% | CIF + duty | 10.0% |
Run your own numbers with the landed cost calculator or check documentation requirements in the LC document checklist.