On Monday, the US Department of Commerce (DOC) announced the final results of its administrative review of the countervailing duty (CVD) order on drill pipe from China.
The review covered 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 2011.
The DOC calculated a final countervailing duty margin of 5.07 percent for Shanxi Yida. The previous countervailing duty deposit rate is 18.18 percent for Shanxi Yida.
Accordingly, effective August 5, 2013, the countervailing duty deposit rate became 5.07 percent for Shanxi Yida. In addition, the DOC will send instructions to US Customs and Border Protection to liquidate entries that were made during the period of review.
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.