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

The US Department of Commerce has amended its countervailing duties (CVD) for corrosion-resistant steel (CORE) products imported from India after a ruling from the United States Court of International Trade (CIT).


In an order, slated for May 11 release, Commerce notified the public that the decision of the CIT was not in harmony with the initial results of its investigation on CVD for the material from India for the period of November 6, 2015, through December 31, 2016. 


Commerce has now amended the final results for CVD in line with the CIT’s judgment. The US will now impose a 554.26pc CVD on CORE steel products exported by four companies of the Uttam Galva Group – Uttam Galva Steels, Uttam Value Steels, Uttam Galva Metallics, and Lloyds Steels Industry.


Under the revised order, Commerce will instruct US Customs and Border Protection to calculate CVD for exports of subject matters from the listed parties at ad-valorem rates equal to the weighted average subsidy rates.

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