Cold-Rolled Steel: Commerce Issues Final Determinations, To Require CV Cash Deposits for South Korea
The Commerce Department issued its final affirmative countervailing duty determinations on cold-rolled steel flat products from Brazil (C-351-844) (here), India (C-533-866) (here), Russia (C-821-823) (here) and South Korea (C-580-882) (here). For Brazil, India and Russia, suspension of liquidation is currently not in effect for entries on or after April 20, and Commerce will only require cash deposits of estimated CV duties on future entries if it issues a CV duty order. For South Korea, Commerce will suspend liquidation and require CV duty cash deposits for entries on or after July 29.
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(Commerce also issued a final affirmative determination in companion antidumping duty investigations, see 1607280035).
South Korea: Commerce To Require CV Cash Deposits
In a change from its preliminary determination, Commerce found illegal subsidization of cold-rolled steel from South Korea in this final determination. As a result, Commerce will direct CBP to suspend liquidation for CV purposes and require CV duty cash deposits for such merchandise. If the International Trade Commission finds injury in its final injury determination, Commerce will issue a CV duty order making these duties permanent. CV duty cash deposit rates take effect July 29, as follows:
| Company | CV Rate |
|---|---|
| POSCO | 58.36% (from zero) |
| Hyundai Steel Co., Ltd. | 3.91% (from zero) |
| All other companies | 3.91% (from zero) |
Brazil, India and Russia: CV Liq Reinstated, No Cash Deposit Since April 20
For Brazil, India and Russia, Commerce will instruct CBP to continue the suspension of liquidation of entries from Dec. 22, 2015, through April 19, 2016.
Commerce previously instructed CBP to discontinue the suspension of liquidation of entries from Brazil, India and Russia for CV duty purposes and the collection of CV duty cash deposits for such merchandise entered on or after April 20, 2015, the expiration date of the 120-day "provisional measures" period during which Commerce can suspend liquidation without a CV duty order in place.
Commerce will issue a CV duty order, reinstate the suspension of liquidation, and require a cash deposit of estimated CV duties for entries of subject merchandise from Brazil, India and Russia at the revised CV rates listed below if the International Trade Commission issues a final affirmative injury determination (due Sept. 3).
Brazil
| Company | CV Rate |
|---|---|
| Companhia Siderurgica Nacional | 11.31% (from 7.42%) |
| Usinas Siderurgicas de Minas Gerais S.A. | 11.09% (from 7.42%) |
| All Others | 11.2% (from 7.42%) |
India
| Company | CV Rate |
|---|---|
| JSW Steel Limited and JSW Steel Coated Products Limited | 10% (from 4.45%) |
| All Others | 10% (from 4.45%) |
Russia
| Company | CV Rate |
|---|---|
| PAO Severstal, Severstal Export GmbH, JSC Karelsky Okatysh, AO OLKON, AO Vorkutaugol, and JSC Vtorchermet | zero* |
| Novolipetsk Steel OJSC, Novex Trading (Swiss) S.A., Altai-Koks OJSC, Dolomite OJSC, Stoilensky OJSC, Studenovskaya (Stagdok) OJSC, Trading House LLC, Vtorchermet NLMK LLC, Vtorchermet OJSC, and Vtorchermet NLMK Center LLC | 6.95% (from 6.33%) |
| All Others | 6.95% (from 6.33%) |
*Because it was assigned a zero rate, this company will be permanently exempt from any CV duty order Commerce issues in connection with this investigation.
(Note that, for Brazil, India and Russia, there is no CV duty liability, and no CV duties will be assessed, on entries during the "gap period" of April 20 until the date an ITC final affirmative injury determination is published in the Federal Register.)
(The period of investigation is 01/01/14 -- 12/31/14. See Commerce's notice for more information, including the scope of the order, detailed instructions on cash deposit and assessment rates, changes since the preliminary determination, etc. See 1512210017 for summary of the preliminary determinations of these investigations.)
(Federal Register 07/29/16)