On Thursday, the US Department of Commerce (DOC) announced the final results of its administrative review of the countervailing duty (CVD) order against corrosion-resistant carbon steel flat products from Korea.
The review originally covered three producers/exporters-Hyundai HYSCO Ltd.; Dongbu Steel Co. Ltd.; and Pohang Iron & Steel Company Ltd. (POSCO)-during the calendar year 2008.
The DOC calculated a final net subsidy rate of 0.05 percent for Hyundai HYSCO, which is de minimis. Hyundai HYSCO's previous subsidy rate was also 0.00 percent.
The DOC rescinded the reviews of Dongbu and POSCO because those companies had withdrawn their requests for review. The subsidy rates for these companies remain unchanged-at 0.00 percent.
Accordingly, effective January 20, 2011, the countervailing duty deposit rate for Hyundai HYSCO remains 0.00 percent.
There is also an antidumping order against corrosion-resistant carbon steel flat products from Korea. The current dumping duty deposit rates are 3.29 percent for Hyundai HYSCO, 8.56 percent for Dongbu, and 0.00 percent for POSCO. The DOC is conducting an administrative review of the antidumping order, covering Hyundai HYSCO, Dongbu, and POSCO as well as Dongkuk Industries Co. Ltd.; Haewon MSC Co. Ltd.; LG Chem Ltd.; LG Hausys Ltd.; and Union Steel Manufacturing Co. Ltd. The final results of that administrative review are due by March 14, 2011.
The merchandise subject to the order is currently classifiable in the Harmonized Tariff Schedule of the United States (HTSUS) at subheadings: 7210.30.0000, 7210.31.0000, 7210.39.0000, 7210.41.0000, 7210.49.0030, 7210.29.0090, 7210.60.0000, 7210.61.0000, 7210.70.6030, 7210.70.6060, 7210.70.6090, 7210.90.1000, 7210.90.6000, 7210.90.9000, 7212.20.0000, 7212.21.0000, 7212.29.0000, 7212.30.1030, 7212.30.1090, 7212.30.3000, 7212.30.5000, 7212.40.1000, 7212.40.5000, 7212.50.0000, 7212.60.0000, 7215.90.1000, 7215.90.3000, 7215.90.5000, 7217.12.1000, 7217.13.1000, 7217.19.1000, 7217.19.5000, 7217.20.1500, 7217.22.5000, 7217.23.5000, 7217.29.1000, 7217.29.5000, 7217.30.15.0000, 7217.32.5000, 7217.33.5000, 7217.39.1000, 7217.39.5000, 7217.90.1000 and 7217.90.5000.