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ITA rescinded both reviews for BDP International and Sung Jin Steel Co. after Nucor, SSAB, and Cleveland-Cliffs withdrew their request for examinations of the two companies.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 That margin was carried over into the next year, as ITA rescinded the 2021-22 review based on the timely withdrawal of all review requests.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
Commerce launches probe into unfairly traded rebar imports
Here are the details and a case timeline for the rebar trade case recently initiated by the Commerce Department.
Leibowitz on Trade: Who is winning the tariff debate?
Most economists will tell you that universal tariffs will result in inflation and reduce demand, causing a recession or worse. (After all, this is what happened in the 1930s). It is a rare product that is so essential that demand will not go down if prices go up.
Canadian steel industry fears thousands of job losses from US tariffs
The Canadian steel industry is bracing for thousands of job losses because of US tariffs, the Canadian Steel Producers Association says.
US, Mexico mull tariff-rate quota system: Report
Could the US and Mexico end up with a tariff-rate quota system?
OCTG industry salutes Customs for catching trade crooks
The US OCTG Manufacturers Association is commending US Customs for intercepting another Thai company's attempt to illegally transship Chinese oil pipe to the US.