The US Department of Commerce (DOC) has announced the preliminary results of its administrative review of the countervailing duty (CVD) order on certain cold-rolled steel flat products (CRC) from South Korea.
Accordingly, the DOC has preliminarily determined that South Korean suppliers POSCO and Hyundai Steel Company received countervailable subsidy rates at 0.88 percent and 0.78 percent for the period from January 1, 2021, through December 31, 2021.
The DOC stated that it has rescinded the review on the countervailing duties on imports of the given product for 44 companies and intends to rescind the review for two other companies.
The final result of the review is expected to be announced within 120 days of publication of the preliminary results.