CVD Petitioner, US Drop Appeal of Countervailability of Korean Electricity Provision
Countervailing duty petitioner Nucor Corp. and the U.S. on Dec. 28 dismissed their appeal of a Court of International Trade ruling sustaining the Commerce Department's decision that found electricity wasn't provided below cost in South Korea. No reason was given for why the appellants dismissed the appeal, and counsel didn't respond to our request for comment (POSCO v. U.S., Fed. Cir. # 22-1576, -2130).
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The consolidated case was previously before the U.S. Court of Appeals for the Federal Circuit, which remanded the case so Commerce could reconsider its reliance on the preferential-rate standard and its failure to address the Korean Power Exchange's impact on the South Korean electricity market as rendering cost-recovery analysis. The trade court sustained the remand, finding that both items now comply with the appellate court's prior ruling (see 2206130054). The case stems from the CVD investigation on carbon and alloy steel cut-to-length plate from South Korea.