The US Department of Commerce (DOC) has announced the preliminary results of its administrative reviews of the antidumping duty and countervailing duty orders on certain hot rolled steel flat products from South Korea. The period for the antidumping duty review is between October 1, 2022, and September 30, 2023, while the DOC examined the period between January 1, 2022, and December 31, 2022, within the scope of its countervailing duty review.
Accordingly, South Korean companies were found to have made sales of the subject merchandise at less than normal value during the period of review. Therefore, the DOC has determined a preliminary weighted-average dumping margin of 0.89 percent for Hyundai Steel Company and 2.10 percent for POSCO.
In addition, according to the preliminary results of the administrative review of the countervailing duty order on the given product from South Korea, the preliminary subsidy rates are at 2.21 percent for Hyundai Steel Company and 1.47 percent for POSCO.
The final results of the reviews are expected to be announced within 120 days of publication of the preliminary results.