Trade Cases
Commerce adjusts import duties on Korean plate
Written by Laura Miller
March 7, 2024
Antidumping and countervailing duty (AD/CVD) rates on imports of cut-to-length plate from two major South Korean producers may soon be adjusted.
The US Department of Commerce’s International Trade Administration (ITA) is conducting administrative reviews of both the AD and CVD orders on CTL carbon-quality steel plate from South Korea. It released the preliminary results this week in Federal Register filings reviewed by SMU.
The mandatory respondents in both reviews are Korea’s Dongkuk Steel Mill Co. and Hyundai Steel Co.
ITA rescinded both reviews for BDP International and Sung Jin Steel Co. after Nucor, SSAB, and Cleveland-Cliffs withdrew their request for examinations of the two companies.
The final results of ITA’s administrative reviews will be released in early July.
Last year, Commerce and the International Trade Commission decided in a sunset review that the AD and CVDs on CTL plate imports from South Korea, India, and Indonesia should remain in place for another five years.
AD review
The ITA preliminarily found that Korean producers/exporters did not make sales of the subject plate at below normal value during the period of review, Feb. 1, 2022, through Jan. 31, 2023.
As a result, the ITA set 0% preliminary AD margins for Dongkuk and Hyundai.
Dongkuk, Hyundai, BDP, and Sung Jin most recently received AD margins of 6.09% in the 2020-21 administrative review. That margin was carried over into the next year, as ITA rescinded the 2021-22 review based on the timely withdrawal of all review requests.
Should ITA’s initial results be adopted in its final results, Dongkuk and Hyundai’s AD margins will decrease, while BDP and Sung Jin’s rates will be maintained.
CVD review
For the CVD review, ITA is looking at the 2022 calendar year.
ITA determined initial subsidy rates of 1.93% for Dongkuk and 2.21% for Hyundai. These rates are slightly higher than the 1.08% rate found for both companies in the 2021 review.
Laura Miller
Read more from Laura MillerLatest in Trade Cases
Industry piles on new Section 232 steel derivative inclusion requests
The Department of Commerce received 97 submissions from producers, manufacturers, and groups seeking Section 232 tariff coverage for steel and aluminum derivative products.
Price on Trade: New EU steel tariffs don’t mean the US should weaken its stance
Any steel imports into the EU that exceed the new, lower quota level would be subject to a 50% tariff, which represents a major increase from the EU’s current 25% out-of-quota tariff. This move would largely align the EU’s steel tariff rate with Canada and the United States.
Global steel forum sets 2026 framework deadline as US ups pressure on excess capacity
Global steelmakers sounded the alarm Friday over the deepening excess steelmaking capacity crisis. Ministers at the Global Forum on Steel Excess Capacity (GFSEC) in Gqeberha, South Africa, pledged to...
CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...
U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.