Government/Policy
November 2, 2022
Commerce Sets Lower Duties on Japanese, Korean HR Sheet
Written by Laura Miller
The US Department of Commerce’s International Trade Administration (ITA) has set new, lower dumping rates on hot-rolled steel flat product imports from Japan and South Korea.
The time period covered in both the ITA’s administrative reviews of the antidumping duties is Oct. 1, 2020, through Sept. 30, 2021, according to the Federal Register filings reviewed by SMU.
In the review of the duties for Japan, the ITA set preliminary rates of 7.81% for the Nippon Steel companies and Tokyo Steel Manufacturing Co. The initial duties are much lower than the 24.07% rate found in the final results of the prior one-year review.
For South Korea’s duty review, preliminary rates were set at 0% for Posco, and 0.91% for Hyundai Steel and 12 other companies including Dongkuk, Dongbu, and Marubeni-Itochu Steel Korea. Posco’s 0% rate is de minimis, meaning that it is below 0.5% and that duties will therefore not be collected.
The preliminary duties set for the South Korean companies are lower than those found in the prior review of sales from Oct. 1, 2019, through Sept. 30, 2020. The final rates set in that review were 3.62% for Hyundai, 1.57% for Posco, and 2.95% for Dongkuk, Dongbu, Marubeni-Itochu, and three other companies.
By Laura Miller, Laura@SteelMarketUpdate.com
