U.S. Department of Commerce Releases Final Decision on Korean Tubular Goods
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The review covered sales from September 1, 2023, to August 31, 2024.
The Department determined that OCTG from Korea were sold in the United States at less than their normal value during this period. This means that certain Korean sellers were selling these products at lower prices in the U.S. than in Korea.
The review specifically examined two companies: NEXTEEL Co., Ltd. and SeAH Steel Corporation. Their respective weighted-average dumping margins were calculated as follows:
- NEXTEEL Co., Ltd.: 29.94%
- SeAH Steel Corporation: 9.80%
For other companies not individually examined, a simple average margin of 19.87% was applied.
The U.S. Department of Commerce relied on several methodologies to determine these figures. They used U.S. benchmark prices for market adjustments and calculated constructed value (CV) profits and selling expenses for the companies involved.
As a result of these findings, the U.S. Customs and Border Protection (CBP) will assess antidumping duties accordingly. The CBP will follow specific instructions to apply these duties based on the determined margins.
The Department set new cash deposit requirements for subject merchandise shipped on or after the publication date of these results. The cash deposit rate will be based on the dumping margin established in this review.
The Department will disclose the final calculations within five days of the publication of these results. There is a possibility for companies to challenge this decision in the U.S. Court of International Trade, which could delay the assessment procedures.
This announcement serves as a reminder for importers to file necessary documents regarding any reimbursement of antidumping duties. Compliance is essential to avoid additional charges.
The U.S. Department of Commerce will continue to monitor and enforce trade laws to ensure fair competition in the market.
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