US DOC announces results of administrative review of CVD order on corrosion-resistant steel from Korea

On Tuesday, October 27, 2009, 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 covered three producers/exporters -- Dongbu Steel Co. Ltd.; Hyundai HYSCO Ltd.; and Pohang Iron & Steel Company Ltd. and its affiliates POSCO Steel Service & Sales Co., Ltd., and Pohang Steel Co., Ltd. (collectively POSCO) -- during the calendar year of 2007. 
 
The DOC calculated the following final weighted-average subsidy margins: (a) Dongbu -- 0.21 percent; (b) Hyundai HYSCO -- 0.04 percent; and (c) POSCO -- 0.01 percent. All of these margins are de minimis, which means that the subsidy amount is considered to be negligable and the deposit rate will therefore change to, or remain at, zero (0.00) percent.
 
The previous CVD deposit rates were zero (0.00) percent for Dongbu and POSCO and 2.69 percent for Hyundai HYSCO.
 
Accordingly, effective Tuesday, October 27, 2009, the CVD deposit rates remained zero (0.00) percent for Dongbu and POSCO and became zero (0.00) percent for Hyundai HYSCO.