Commerce's Verdict: Korean Steel Trade Under Scrutiny

CWP
CWPImage Source: Bhansli Overseas

Synopsis:

The U.S. Department of Commerce preliminarily concludes that circular welded non-alloy steel pipe (CWP) from South Korea was sold below normal value during the review period. The investigation, effective December 6, 2023, invites stakeholder comments on these findings. The order, initiated in 1992, covers CWP of circular cross-section, with preliminary results indicating varying weighted-average dumping margins for companies like Hyundai Steel and Husteel Co.

Article:

In a recent development, the U.S. Department of Commerce has delivered preliminary findings on circular welded non-alloy steel pipe (CWP) originating from South Korea. The period under review spans from November 1, 2021, to October 31, 2022, during which the Commerce Department observed instances of CWP being sold below the normal market value. Stakeholders are now invited to provide comments on these preliminary results, a pivotal step in the ongoing scrutiny of steel trade practices.

The origins of this investigation trace back to November 2, 1992, when Commerce first published an order on CWP from South Korea in the Federal Register. Subsequently, on November 1, 2022, a notice of opportunity to request an administrative review of the order was published, leading to the initiation of an antidumping duty administrative review for 23 companies on January 3, 2023.

The scope of the order encompasses circular welded non-alloy steel pipe and tube, characterized by a circular cross-section not exceeding 406.4 millimeters (16 inches) in outside diameter. The parameters include variations in wall thickness, surface finish (black, galvanized, or painted), and end finish (plain end, beveled end, threaded, or threaded and coupled). Detailed specifics are outlined in the Preliminary Decision Memorandum.

In terms of methodology, the Commerce Department's preliminary results reveal weighted-average dumping margins for the review period. Notably, Hyundai Steel Company and Husteel Co., Ltd., demonstrate margins of 0.99% and 0.65%, respectively. Companies not individually examined face a significantly higher margin of 90.82%.

Conclusion:

As the U.S. Department of Commerce issues preliminary findings on the review of circular welded non-alloy steel pipe from South Korea, the steel trade landscape faces heightened scrutiny. Stakeholders are encouraged to provide comments on these findings, signaling a critical phase in the ongoing assessment of fair trade practices. The varying weighted-average dumping margins for different companies underscore the nuanced dynamics within the steel industry, emphasizing the importance of transparent and equitable trade relations.

Related Stories

No stories found.
logo
SteelGuru Business News
www.steelguru.com