HSN Code 7205 refers to "Granules and powders of pig iron, spiegeleisen, iron or steel (excluding granules and powders of ferro-alloys, turnings and filings of iron or steel, radioactive iron powders 'isotopes' and certain low-calibre, substandard balls for ballbearings)." This classification code is essential for identifying iron and steel granules and powders for import/export purposes based on their nature, composition, and intended use. Common products under HSN Code 7205 include pig iron granules, spiegeleisen powders, and various iron or steel powders. Additionally, the GST rate for these materials under this code supports accurate trade compliance.