The US Department of Commerce (DOC) announced Thursday its preliminary determinations in the countervailing duty (CVD) investigations of non-oriented electrical steel from China, Korea, and Taiwan.
The DOC has made affirmative determinations with respect to China and Taiwan as follows:
(1) China: Baoshan Iron & Steel Co., Ltd. and all other Chinese producers and exporters – 125.83 percent.
(2) Taiwan: China Steel Corporation and its affiliates – 0.15 percent (de minimis); Leicong Industrial Company, Ltd. – 12.82 percent; and all other Taiwanese producers and exporters – 6.41 percent.
The DOC has made a negative preliminary affirmative determination with respect to Korea. The DOC found a de minimis subsidy rate (0.59 percent) for POSCO, Daewoo International Corporation, and all other Korean producers and exporters.
The CVD margins will go into effect when the DOC publishes its preliminary determinations in the Federal Register, likely next week. At that time, importers will be required to make cash deposits of the estimated countervailing duties. Because the Korean companies and China Steel and its affiliates have de minimis margins, no cash deposit will be required for their shipments of non-oriented electrical steel.