The United States Department of Commerce has announced a significant amendment to its antidumping duty order on cut-to-length carbon steel plate from Italy. This modification, published on July 3, 2024, comes as a result of a court decision and subsequent redetermination by the DOC. The amendment primarily affects NLMK Verona S.p.A., a key Italian steel producer, and has implications for the broader steel trade between the United States and Italy.
At the heart of this amendment is a revision of the cash deposit rate for NLMK Verona. The DOC has reduced the company's rate from 22.19% to 1.15%, a substantial decrease that reflects the department's recalculation following the court's decision. This significant reduction in the antidumping duty rate is expected to have a considerable impact on NLMK Verona's ability to compete in the U.S. market for cut-to-length carbon steel plate.
The process leading to this amendment began with a legal challenge to the DOC's original determination. Following a review by the United States Court of International Trade, the court remanded the case back to the DOC for reconsideration. The department then conducted a redetermination, which resulted in the revised rate now being implemented. This sequence of events underscores the complex and often lengthy process involved in international trade disputes and the determination of antidumping duties.
The impact of this amendment extends beyond NLMK Verona. The DOC has stated that the cash deposit rate of 1.15% will also apply to companies that were not individually examined in the original investigation but were subject to the all-others rate. This decision potentially benefits other Italian producers and exporters of cut-to-length carbon steel plate, providing them with improved access to the U.S. market.
For U.S. importers of Italian cut-to-length carbon steel plate, this amendment brings significant changes. The DOC has instructed U.S. Customs and Border Protection to collect cash deposits at the new, lower rate of 1.15% for shipments of the subject merchandise entered, or withdrawn from warehouse, for consumption on or after the publication date of the amended final results. This change is likely to reduce costs for importers and may lead to increased trade volumes in this product category.
