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

The US Department of Commerce has imposed preliminary countervailing duties (CVD) for certain hot-rolled steel flat products from South Korean producer, Hyundai Steel for the period of review (POR) January 1, 2018, to December 31, 2018. 


In a notification on Aug 20, the department indicated that an investigation revealed Hyundai Steel had received unfair subsidies for the subject merchandise exported to the US during the POR. Commerce has subsequently levied a CVD of 0.51pc on the Korean steelmaker.


Upon publishing the final results, Commerce intends to instruct Custom Border Protection (CBP) to collect cash deposits of the estimated CVD on subject merchandise under the POR entered or withdrawn on or after the date of publication. 

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