The US Department of Commerce (DOC) announced Thursday the preliminary results of its administrative review of the countervailing duty (CVD) order on drill pipe from China.
The review covers Shanxi Yida Special Steel Imp. & Exp. Co., Ltd. and its cross-owned affiliates – Shanxi Yida Special Steel Group Co., Ltd. and Shanxi Yida Petroleum Equipment Manufacturing Co., Ltd. – during the period of calendar year 2013.
The DOC has preliminarily determined a countervailing duty margin of 3.57 percent for Shanxi Yida. The current countervailing duty deposit rate is 5.07 percent for Shanxi Yida.
The DOC plans to complete this administrative review by March 2105. Until that time, the current countervailing duty deposit rate will remain in effect. Any change in the deposit rate as a result of this review will become effective only when the DOC's final results are published in the Federal Register.
There is also an antidumping (AD) order on drill pipe from China. Shanxi Yida is excluded from the AD order and, thus, not subject to dumping duty deposits or assessments.