HS Code for Platinum Group Metals - PGMs (Chapter 7110)
PGMs comprise six metals - platinum, palladium, rhodium, iridium, ruthenium, osmium. South Africa (Amplats, Impala, Sibanye-Stillwater) and Russia (Nornickel) supply 85% of world Pt/Pd/Rh. Autocatalyst demand (55%), jewellery (25%), industrial (20%). Fuel cells and green H2 lift Pt demand outlook.
Sample 6-digit codes
| Code | Description |
|---|---|
| 7110.11 | Platinum, unwrought or powder |
| 7110.19 | Platinum, semi-manufactured |
| 7110.21 | Palladium, unwrought or powder |
| 7110.31 | Rhodium, unwrought or powder |
| 7110.41 | Iridium, osmium, ruthenium, unwrought/powder |
Typical import duty by market
| Market | Duty |
|---|---|
| European Union | 0% |
| United States | 0-3.8% |
| Japan | 0% |
| India (BCD) | 10-12.5% |
Numerical Example: 10 kg platinum sponge 99.95%, FOB Johannesburg USD 950/oz, CIF Mumbai
10 kg platinum sponge 99.95%, FOB Johannesburg USD 950/oz, CIF Mumbai. Run your own numbers in the Import Duty & Tax calculator.
- · LBMA/LPPM Good Delivery for Pt/Pd bars.
- · Kilo bar and 1oz coin trade forms.
- · OFAC restrictions on Russian PGMs - Nornickel not sanctioned as of 2025 but US/UK/EU refined-form imports face scrutiny.
- · US critical minerals list; EU CRM Act - PGMs are strategic.
- · South Africa
- · Russia (Nornickel)
- · Zimbabwe
- · Canada
- · United States
Frequently asked questions
Each 100 kW PEM fuel cell uses ~10-30g Pt. Heavy-duty truck FC deployments and EU Hydrogen Bank could drive 300-800 koz additional Pt demand by 2030 (vs current ~8 million oz market). This is bull case - not consensus - watch OEM roadmap.
Import duty and tax by destination market
Typical MFN duty, consumption tax and the tax base applied to precious metals (HS 7110) 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 | 15% | IGST 18% | Assessable value + duty | 36.1% |
| 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.