South Korea Hot-Rolled Steel: Prelim Results of CV Admin Review
The Commerce Department published the preliminary results of its countervailing duty administrative review on hot-rolled steel flat products from South Korea (C-580-884). Rates set in this review will be used to assess CVD on subject merchandise from the exporters under review entered during the period Jan. 1, 2021, through Dec. 31, 2021.
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Commerce has ordered liquidation “as entered” at the cash deposit rate in effect at the time of entry for subject merchandise entered in calendar year 2021 that was exported by companies that are not under review (now all except Hyundai Steel and POSCO) (ADCVDWeb Message # 3013413). Any entries during the period of review from the 13 companies that will not be reviewed will also be liquidated as entered.
In these preliminary results, Commerce is rescinding the review for the following 13 companies that had their requests for review withdrawn: (1) DCE Inc; (2) Dong Chuel America Inc.; (3) Dong Chuel Industrial Co., Ltd.; (4) Dongbu Incheon Steel Co., Ltd.; (5) Dongbu Steel Co., Ltd.; (6) Dongkuk Industries Co., Ltd.; (7) Dongkuk Steel Mill Co., Ltd.; (8) Hyewon Sni Corporation (H.S.I.); (9) JFE Shoji Trade Korea Ltd.; (10) POSCO Coated & Color Steel Co., Ltd.; (11) POSCO Daewoo Corporation; (12) Soon Hong Trading Co., Ltd.; and (13) Sung-A Steel Co., Ltd. Entries from these companies during the period of review will also be liquidated as entered.
Cash Deposit Requirements
For companies that remain subject to review, new CVD cash deposit requirements may take effect beginning on the date of publication of the final results in the Federal Register, currently scheduled for March. Commerce preliminarily calculated the following CV duty cash deposit rates:
| Exporter | CVD Rate (Prelim) |
|---|---|
| Hyundai Steel Company (aka Hyundai Steel Co., Ltd.) | 0.78% |
| POSCO (and cross-owned affiliates) | 0.88% |
Any changes to rates for Hyundai Steel and POSCO would take effect on the date of publication in the Federal Register of the final results of this review, currently due in March.
(The period of review is 01/01/21 - 12/31/21. See the notice for additional information, including the scope of the order, potential cash deposit and assessment instructions, etc.)