The U.S. Department of Commerce fixed its preliminary antidumping duty rates applied to thick plates imported from South Korea at 0.68 percent on June 15. The target companies are Dongkuk Steel, Hyundai Steel and Sungjin Steel. The current rates applied to the three companies are 2.26 percent, 2.49 percent and 2.43 percent, respectively. The final determination for this year will be made within 120 days.

The preliminary and final rates have shown some difference for years. For example, the rates on those Hyundai Steel exported in 2018 and 2019 were 5.68 percent and 2.49 percent, respectively. The figures applied to Dongkuk Steel were 10.92 percent and 2.26 percent, respectively. 

These days, the department is lowering its tariffs on South Korean carbon steel products, plated steel sheets and alloy steel products as well as thick plates. In the case of plated steel sheets, it applied a final rate of 0.76 percent to Dongkuk Steel, 0.8 percent to POSCO and 0.86 percent to KG Dongbu Steel in its annual review in May this year whereas a preliminary rate of 2.33 percent was adopted last year. In addition, the countervailing duty on KG Dongbu Steel was lowered from 7.17 percent to 6.83 percent. 

In its annual review in March this year, the department adopted a final antidumping duty rate of 0.94 percent regarding POSCO’s carbon alloy steel products. The same products were subject to a rate of 41.1 percent in 2018.