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HS 7110Precious metals

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.

Reviewed against WCO HS · WTO IDB · National customs schedules4 authoritative sourcesLast reviewed July 2026

Sample 6-digit codes

CodeDescription
7110.11Platinum, unwrought or powder
7110.19Platinum, semi-manufactured
7110.21Palladium, unwrought or powder
7110.31Rhodium, unwrought or powder
7110.41Iridium, osmium, ruthenium, unwrought/powder
Need to check a specific code? Use the free HS code lookup tool.

Typical import duty by market

MarketDuty
European Union
0%
United States
0-3.8%
Japan
0%
India (BCD)
10-12.5%

Worked landed-cost example

10 kg platinum sponge 99.95%, FOB Johannesburg USD 950/oz, CIF Mumbai

Basis (321.5 oz)USD 305,425
Secure freight + insuranceUSD 2,500
CIFUSD 307,925
India BCD 10%USD 30,793
GST 3%USD 10,162
Landed ≈ USD 348.9k. Rhodium trades separately (USD 4,000-15,000/oz historically) and dominates PGM value swings.
Run your own numbers in the import duty & tax calculator.
Regulatory checkpoints
  • · 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.
Top exporting countries
  • · South Africa
  • · Russia (Nornickel)
  • · Zimbabwe
  • · Canada
  • · United States

Frequently asked questions

Fuel cell platinum demand upside?

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.

Destination market toolkits

Country-specific duty, VAT/GST and Incoterms practice for the top destinations for precious metals.

Import into India →
IGST on imports · 5% / 12% / 18% / 28%
Import into United States →
No federal VAT / GST · 0% federal
Import into Germany →
VAT (Umsatzsteuer / Einfuhrumsatzsteuer) · 19% standard, 7% reduced
Import into Japan →
Consumption Tax (JCT) · 10% standard / 8% reduced (food, newspapers)
Import into South Africa →
VAT · 15%
Import into China →
Import VAT · 13% standard, 9% reduced, 6% services

Precious metals landed-cost pages: every destination market

Jump straight to the precious metals import guide for any of the destination markets we cover.

Related commodity guides

HS 7108Precious metals
HS Code for Non-Monetary Gold (HS 7108) →
HS 7106Precious metals
HS Code for Silver Bullion (HS 7106) →
HS 61 & 62Consumer goods
HS Code for Textiles & Apparel (Chapters 61 and 62) →
HS 85Electronics
HS Code for Electronics (Chapter 85) →

Related tools

HS Code Lookup →
Search harmonised codes across 21 sections.
Import Duty & Tax →
Landed cost with duty, VAT/GST and cess.
Landed Cost by HS & Country →
Duty + VAT/GST + Incoterm split for this HS.
CIF ↔ FOB Converter →
Convert customs value between Incoterms.

Sources & citations

Duty rates and regulations compiled from WCO HS, WTO integrated database, national customs authorities and published FTA schedules. Provided for decision-support only - confirm the 10-digit line and current preferential status with your licensed customs broker before acting.

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