Trade Cases
Commerce revises AD/CVD rates on Korean galv
Written by Laura Miller
August 13, 2024
The Department of Commerce’s International Trade Administration issued the preliminary results of administrative reviews of the antidumping and countervailing duties (AD/CVDs) on corrosion-resistant steel (CORE) products from South Korea.
The preliminary results are mixed. Some companies’ dumping rates were adjusted upward, and some downward, while most countervailable subsidy rates ticked higher.
ITA intends to issue the final results of both reviews by Dec. 10.
Recall that South Korea has an absolute quota in place in lieu of Section 232 tariffs. Its 2024 hard limit is 183,326 short tons (st) of hot-dipped galvanized flat-rolled products and 210,366 st of coated flat-rolled products. Quarterly quotas are also in place. These limits can not be surpassed; excess material must be warehoused or shipped out of the country until the quarterly quota resets.
AD
Commerce preliminarily found that certain CORE products from Korea were sold in the US at prices below normal value during the one-year period of July 1, 2022, through June 30, 2023.
| Period of review | 2022 calendar year | 2021 calendar year |
|---|---|---|
| Producer/exporter | ||
| Dongbu companies | 5.49% | 6.48% |
| Hyundai companies | 0.80% | 0.82% |
| Posco companies | 2.68% | 1.60% |
| SeAH companies | 2.68% | 1.60% |
Source: Department of Commerce’s International Trade Administration
CVD
Commerce’s preliminary determination is that countervailable subsidies are still being provided to CORE producers and exporters in Korea.
| Period of review | July 1, 2022 to June 30, 2023 | July 1, 2021 to June 30, 2022 |
|---|---|---|
| Producer/exporter | ||
| Dongbu companies | 1.74% | 0.53% |
| Dongkuk companies | 1.74% | 0.53% |
| Hyundai companies | 0% | 0% |
| Posco companies | 1.74% | 0.53% |
| SeAH companies | 1.74% | 0.53% |
Source: Department of Commerce’s International Trade Administration
The CVD rate for the Hyundai group of companies continues to be 0% as it has had no shipments to review during the review periods.
Editor’s note: This story has been updated to reflect that South Korea has an absolute hard quota in place and not a tariff-rate quota, as was originally published.
Laura Miller
Read more from Laura MillerLatest in Trade Cases
US rebar producers seek import relief with new trade case
The four countries targeted for duties are currently the top offshore suppliers of rebar to the US market: Algeria, Bulgaria, Egypt, and Vietnam.
CRU Insight: A 50% S232 tariff will raise US steel prices and shift trade flows
This CRU Insight examines how the increase in Section 232 tariffs on steel to challenging levels will lead to significatively higher prices for end consumers in the US market.
Canacero hits out at new US steel tariffs
Mexican steel trade group Canacero has condemned the US’ actions of raising tariffs on steel and aluminum to 50% from 25%.
It’s official: Trump proclamation doubles S232 on imported steel, aluminum to 50%
President Donald Trump on Tuesday evening signed a proclamation that officially doubled Section 232 tariffs on imported steel and aluminum from 25% to 50%. There was one exception: Section 232 tariffs on steel and aluminum from the United Kingdom will remain at 25%, according to a fact sheet published by the White House.
Cliffs CEO cheers higher S232. What’s next for Canada, Mexico, and automotive?
Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves offered full-throated support for Section 232 tariffs on imported steel being doubled to 50%. And the top executive of the Cleveland-based steelmaker said the steel industry wanted to see as few exceptions as possible to the tariffs.