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

The US Department of Commerce has determined that Hyundai Steel and certain other South Korean producers of cut-to-length steel plates received countervailable subsidies.


In its final results for the period of review (POR), January 1, 2018, through December 31, 2018, Commerce assigned a countervailing duty (CVD) on existing subsidies at the rate of 0.55pc for Hyundai Steel, BDP International, and Sung Jin Steel. It also noted a 0.28pc subsidy provided to Dongkuk Steel but has considered it as the nominal rate and excluded the steelmaker from CVD assessment. 


Commerce will instruct US Customs and Border Protection to liquidate shipments received during the POR at ad valorem cash deposit rates, to be collected from the exporters under this review. 

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