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U.S. slaps no antidumping duty on S. Korean steel products

Industry 11:36 July 08, 2020

SEOUL, July 8 (Yonhap) -- The U.S. Department of Commerce has decided not to impose antidumping duty on cold-rolled steel from POSCO and Hyundai Steel Co., South Korea's two-biggest steelmakers.

The department said it determined that Hyundai Steel and POSCO did not sell cold-rolled steel in the United States at prices below normal value during the period of review, from September 1, 2017 through August 31, 2018.

The flag of South Korean steelmaker POSCO (Yonhap)

Hyundai Steel said it exported about 30,000 tons of cold-rolled steel to the U.S. during the period. POSCO is believed to have shipped about 40,000 tons of cold-rolled steel to the U.S. during the cited period.

"For these final results, we have calculated 0.00 percent weighted-average dumping margins for both Hyundai and POSCO," the department said in the final results of antidumping duty review.

The move came eight months after the department published its preliminary results of the administrative review in the case.

Cold-rolled steel is used in the manufacture of cars and electronic products.

Hyundai Steel Co.'s steelmaking factory in Dangjin, about 120 kilometers south of Seoul (Yonhap)

entropy@yna.co.kr
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