Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The US Department of Commerce has determined its final countervailing duties (CVD) for corrosion-resistant steel imported from South Korea between January 1, 2018, and December 31, 2018. Partial recission has also been made on CVD for some companies. 


Commerce stated in a notification, released on May 24, that based on the comments and evidence received the preliminary results were changed for the net subsidy. 


The final results for CVD have now been amended by the department, considering the evidence received. A final subsidy rate of 6.83pc and 0.51pc was given to Dongbu Steel and Hyundai Steel, respectively, and 3.11pc to all other companies from South Korea that supplied the material.


Commerce intends to instruct US Customs and Border Protection CBP to collect cash deposits of CVD in the amounts shown for the listed parties and continue to collect the previously stated amount for CVD for firms not reviewed. 


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