US Commerce has imposed reduced countervailing duties on certain cut-to-length carbon-quality steel plate (CTL plate) imported from South Korea.
In March 2019, the US Department of Commerce (US Commerce) initiated administrative reviews to determine anti-dumping (AD) and countervailing duty (CVD) on Hyundai Steel and Dongkuk Steel Mill (DSM) and other Korean steelmakers for exports of certain CTL plate exports originating from Korea. The period of review (POR) for this investigation was Jan 1-Dec 31, 2018.US Commerce determined that the subsidies enjoyed by Korean firms were de minimis. The agency has arrived at a subsidy rate ad valorem of 0.15pc for DSM, 0.49pc for Hyundai Steel and nil for BDP International and Sung Jin Steel.
Earlier, in a preliminary result published on Dec 18, 2019, US Commerce had arrived at a weighted-average dumping margin in the range of 5.68pc to 10.92pc, of which the highest level was recommended for DSM and the lowest for Hyundai Steel. The POR for the investigation was Feb 1, 2018 through Jan 31, 2019.