Government/Policy
Commerce Raises Duty on CTL Plate Imports from Posco
Written by Laura Miller
October 12, 2022
The US Department of Commerce has updated the antidumping duty rate on imports of carbon and alloy cut-to-length plate from South Korea’s Posco.
Having looked at the one-year period ended April 30, 2021, Commerce set a final weighted-average dumping margin of 2.59% for POSCO, according to a Federal Register filing.
The final rate was slightly lower than the 2.8% determined in the preliminary results announced in June, but higher than the 0% rate found in the prior year’s administrative review.
The all-others cash deposit rate for other Korean companies continues to be 7.1%.
South Korea is the top supplier of CTL plate imports coming to the US, having sent approximately 157,197 metric tons (173,280 net tons) in the first three quarters of this year, according to Commerce Department data.
South Korea’s annual hard quota on CTL plate is currently set at 202,530.628 metric tons (223,251.8 net tons). Once that threshold is reached, no more South Korean CTL plate can be brought into the US until the quota refreshes on Jan. 1, 2023. The absolute quota agreement has been in place since 2018 when the country was granted an exemption to the 25% Section 232 tariffs.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
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