US DoC ordered to recalculate antidumping margin of Hyundai Steel products
Yonhap reported that a US court ordered the US Commerce Department to recalculate the antidumping margin of Hyundai Steel Co products in a partial victory for South Korea's second-biggest steelmaker. Jane A Restani, a judge of the US Court of International Trade, said in a slip opinion on Wednesday that the Commerce Department's final results in its antidumping duty investigation of South Korean corrosion-resistant steel products should be remanded.
Hyundai has requested that the court hold that the final determination was unsupported by substantial record evidence and was otherwise not in accordance with the law. Hyundai has also asked that the Commerce Department's determination be remanded for correction of error.
Hyundai alleged that the Commerce Department failed to apply the "special rule" applicable to merchandise with value added after importation to Hyundai's tailor-welded blanks and auto parts.
In 2015, the Commerce Department launched an investigation over the possible sale of corrosion-resistant steel products from South Korea and other countries, claiming they were being sold at less than fair value. The department calculated a final dumping margin of 47.8 percent for Hyundai's steel products in May 2016 by applying an adverse inference to the facts available (AFA). It marked a dramatic hike from Jan. 4, 2016, when the commerce department determined a preliminary antidumping duty of 3.51 percent for Hyundai steel products.
Source : Yonhap