The United States Department of Commerce found that carbon and alloy steel wire rods imported from Korea were sold at prices below normal value. The products were exported to the United States between May 1, 2022 and April 30, 2023.
The investigation was initiated by the US Department of Commerce on July 12, 2023. Preliminary results showed that the dumping margin of the company in issue was 1.03%.
The US first published its anti-dumping duty on wire rods imported from Korea in the Federal Register on May 21, 2018.
Following the release of the final results, the Department of Commerce will assess anti-dumping duties on eligible entries and US Customs and Border Protection (CBP) will review those duties.
Final results of this review will serve as the basis for the assessment of anti-dumping duties on entries of merchandise and, where applicable, for the future deposit of estimated duties. The Department of Commerce plans to issue assessment instructions to CBP within 35 days of publication of the final results in the Federal Register.
It is rumored that these developments could impact the steel market with significant changes in trade policies for steel products imported from Korea.
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