The United States Department of Commerce has initiated a significant trade investigation focusing on hot-rolled steel flat products imported from the Republic of Korea, marking a crucial development in international steel trade relations. The investigation, announced on November 13, 2024, covers the period from October 2022 through September 2023, examining potential dumping practices by Korean manufacturers.
The investigation stems from concerns about unfair pricing practices, specifically addressing whether Korean hot-rolled steel products were sold in the United States at less than normal market value. This action follows a comprehensive antidumping duty order initially implemented in October 2016, demonstrating the ongoing scrutiny of steel trade between the two nations.
The scope of this administrative review is particularly extensive, initially covering 48 companies. However, the Commerce Department has already determined that 46 of these companies had no reviewable entries during the investigation period, leading to a partial rescission of the review. This development has narrowed the focus to key market players, allowing for a more concentrated examination of active trading entities.
The Department's methodology involves a detailed analysis of export prices and constructed export prices, calculated in accordance with section 772 of the Tariff Act of 1930. The investigation utilizes sophisticated pricing comparisons and market value assessments to determine whether dumping occurred and, if so, to what extent. This process includes examining both the export price to the United States and the normal value in the Korean market.
The preliminary phase of this investigation has revealed significant findings that could impact the steel trade relationship between the United States and South Korea. The Commerce Department's Enforcement and Compliance division is overseeing the process, ensuring adherence to international trade regulations and fair practice standards. The investigation's findings are being made publicly available through the Antidumping and Countervailing Duty Centralized Electronic Service System.
