South Korea Corrosion-Resistant Steel: Final Results of CVD Admin Review
The Commerce Department has published the final results of its countervailing duty administrative review on corrosion resistant steel from South Korea (C-580-879). These final results will be used to set final assessments of CVD on importers for subject merchandise entered Jan. 1, 2022, through Dec. 31, 2022.
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Commerce said that a review of the comments it received after the preliminary results of this review were published, it made certain calculation changes. The subsidy rate for mandatory respondent KG Dongbu Steel Co., Ltd. changed (from 5.49%), and that changed the average rate calculated for the non-individually examined companies under review.
Commerce had preliminarily intended to rescind the CVD review for two companies that had no reviewable entries during calendar year 2022. During the final determinations, it determined that of the two companies -- POSCO International and SeAH Steel Corporation -- only SeAH Steel Corporation had no reviewable entries. So the review was rescinded for SeAH Steel Corporation only.
New Cash Deposit Rates Take Effect May 16
New CVD cash deposit rates for the producers and exporters subject to his review take effect May 16, the date these final results were published in the Federal Register. The new rates, which will also apply for importer assessment purposes, are as follows:
| Producer/Exporter | CVD Rate |
|---|---|
| KG Dongbu Steel Co., Ltd.; KG Steel Corporation | 4.02% |
| Hyundai Steel Company (aka Hyundai Steel and Hyundai Steel Co., Ltd.) | 2.27% |
| POSCO | 2.97% |
| POSCO Coated & Color Steel Co., Ltd. | 2.97% |
| POSCO International | 2.97% |
| POSCO Steeleon Co., Ltd. | 2.97% |
| SeAH Coated Metal Corporation | 2.97% |
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 2408090019 for a summary of the preliminary results of this administrative review.)