The U.S. Department of Commerce has decided against levying anti-dumping duty on cold-rolled steel products from South Korean steelmakers, POSCO and Hyundai Steel.
The commerce department had initiated an administrative review in this regard on Nov 15, 2018, following a collective petition filed by ArcelorMittal USA, AK Steel, Nucor, Steel Dynamic, and United Steel Corporation. These companies alleged the two South Korean steelmakers of selling certain cold-rolled steel flat at prices below normal value in the period Sep 1, 2017, to August 31, 2018.
The department’s review calculated weighted-average dumping margins for the two steelmakers as zero. The move is likely to have a positive effect on South Koran exports to the US.
In the period of review, POSCO and Hyundai Steel shipped 40,000mt and 30,000mt of cold-rolled steel to the US, respectively.