South Korea Stainless Steel Sheet in Coils: Final Results of CVD Admin Review
The Commerce Department has published the final results of its countervailing duty administrative review on stainless steel sheet and strip in coils from South Korea (C-580-835). These final results will be used to set final assessments of CVD on importers for subject merchandise entered during calendar year 2022.
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Commerce is rescinding the review for one company because there were no reviewable, suspended entries of subject merchandise from that company -- Samsung STS Co., Ltd. -- during the review period. This upholds its preliminary determination on Samsung STS. Commerce will instruct CBP to assess CVD on all appropriate entries at a rate equal to the cash deposit of estimated countervailing duties required at the time of entry, or withdrawal from warehouse, for consumption, during the review period.
Commerce said it made no changes to the calculations used in the preliminary results, after receiving and reviewing comments on those early results.
New Cash Deposit Rates Take Effect April 16
New CVD cash deposit rates for the producers and exporters subject to his review take effect April 16, the date these final results were published in the Federal Register. The new rates, which also will apply for importer assessment purposes, are as follows:
| Producer/Exporter | CVD Rate (Prelim) |
|---|---|
| Hyundai BNG Steel Co. | 0.57% |
| Hyundai Steel Company / Hyundai ISC | 2.47% |
| Geumok Tech. Co., Ltd. | 17.04%* |
* Rate is based on adverse facts available.
Companies that didn't get a rate in this review will keep their most recently assigned cash deposit rate. If the exporter has never been assigned its own CVD rate, but the manufacturer has, the rate assigned to the manufacturer applies. For merchandise manufactured and exported by companies that have never been assigned a cash deposit rate by Commerce, the all-others rate applies.
(The review period is 01/01/22 - 12/31/22. See Commerce's notice for more information, including the scope of the order, detailed cash deposit and assessment instructions, etc. See 2409160039 for a summary of the preliminary results of this administrative review.)