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Biz News Korea(Eng)
U.S. govt finally delivers modest punitive duties of 11.7% on Posco steel plates
- Collected
- 2017.04.01
- Distributed
- 2017.04.03
- Source
- Go Direct
이미지 확대The U.S. Department of Commerce finalized a 7.39 percent anti-dumping duty and a 4.31 percent countervailing duty on steel plate imports from Posco.
Although the levies were upped from the preliminary 6.82 percent anti-dumping and 0.64 percent countervailing rate, Posco was off lightly when compared to other steel makers. Japanese companies were slapped with 14.79 percent to 48.67 percent dumping margin, the French with up to 148.02 percent and the Chinese with up to 319.27 percent.
The punishment on steel plates is also mild for Posco that faced countervailing duties of 58.63 percent and 57.04 percent respectively on its cold-rolled and hot-rolled steel exports to the U.S. last year.
The latest milder-than-expected finding raises hope for the steelmaker on generous result in next week’s review on wire rods and appeal verdict on cold-rolled and hot-rolled plates planned for the latter half.
The steel plate ruling is based on petition from three companies such as the U.S.-based steel maker ArcelorMittal against rivals from 12 countries including Korea and China accusing them of selling plates at unfairly cheaper price thanks to illicit subsidies from their governments.
The steel plates with thickness of 6 millimeters or more account for 10 percent of entire Korean steel exports.
By Ko Jae-man
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