The US Department of Commerce (DOC) has nnounced the final results of its administrative review of the countervailing duty (CVD) order on stainless steel sheet and strip in coils from South Korea for the period between January 1, 2022, and December 31, 2022.
The DOC determined that certain producers and exporters of stainless steel sheet and strip in coils (SSSS in coils) from South Korea received countervailable subsidies during the given period. The final subsidy rates are at 0.57 percent for Hyundai BNG Steel Co., Ltd, 2.47 percent for Hyundai Steel Company, and 17.04 percent for Geumok Tech. Co., Ltd. According to the preliminary results, the subsidy rates were determined at 0.05 percent for Hyundai BNG Steel Co., Ltd, 0.76 percent for Hyundai Steel Company, and 15.57 percent for Geumok Tech. Co., Ltd.
In addition, the DOC rescinded the review on the countervailing duties on imports of the given product for Samsung STS Co., Ltd. as it had no reviewable shipments, sales, or entries of subject merchandise during the period of review.