The US Department of Commerce (USDOC) announced preliminary results of its countervailing duty (CVD) administrative review regarding cold-rolled steel flat products from South Korea.

For the review period from January 1, 2023, through December 31, 2023, the USDOC determined that Hyundai Steel Company and POSCO received countervailable subsidies at rates of 1.28% and 3.67%, respectively.

Simultaneously, the USDOC is rescinding the review for 46 other companies following timely withdrawal requests from all involved parties. These firms will no longer undergo the current assessment process.

Unless the timeline changes, the USDOC expects to publish final results within 120 days, incorporating feedback from interested parties.