Following a request from steelmakers POSCO and Hyundai, the US Department of Commerce announced today that it will initiate an expedited review of the countervailing duty on corrosion-resistant steel products from Korea.
The DOC intends to issue the preliminary results of the review no later than 180 days from the date of initiation, and the period of review will remain the same as in the original investigation: Jan. 1, 2014 through Dec. 31, 2014.
The DOC noted, however, that final results of this expedited review will not be the basis for the assessment of countervailing duties. Instead, this expedited review is intended to establish individual cash deposit rates for POSCO and Hyundai, or to exclude from the countervailing duty order a company for which the final results of review are zero or de minimis.