The US Department of Commerce (DOC) has announced the preliminary results of its administrative review of the countervailing duty (CVD) order on certain corrosion-resistant steel products from South Korea.
Accordingly, the DOC has preliminarily determined that South Korean suppliers KG Dongbu Steel and Hyundai Steel Company received countervailable subsidy rates at 6.71 percent and 0.59 percent, while POSCO, POSCO Coated and Color Steel Co., and SeAH Coated Metal received countervailable subsidy rates at 1.43 percent each, for the period from January 1, 2021, through December 31, 2021.
The DOC stated that it intends to rescind the review on the countervailing duties on imports of the given product for four other companies as no shipment of corrosion-resistant steel products was made by them into the US during the period of review.
The final result of the review is expected to be announced within 120 days of publication of the preliminary results.