U.S. antidumping duty scrapped for Hyundai Steel’s plated steel sheets

22/03/2019 12:00 - 361 total view

Hyundai Steel Co., South Korea’s No. 2 steelmaker, said Wednesday that the U.S. Commerce Department recently decided to scrap its antidumping duty on the steelmaker’s plated steel sheets.

In 2015, the Commerce Department launched an investigation into the sale of corrosion-resistant steel products from South Korea and other countries, claiming they were being sold at less than fair value.

It calculated a final dumping margin of 47.8 percent for Hyundai’s steel products in May 2016 by applying an adverse inference to the facts available (AFA).

In May 2018, the Department lowered the dumping margin on Hyundai Steel to 7.89 percent but raised it to 10.32 percent in August 2018.

With the latest decision, Hyundai Steel expects an increase in exports of plated steel sheets to the U.S.
March 21, 2019
Source: Yonhap