USA to recalculate anti-dumping duty on Hyundai metallurgical products

A U.S. court ordered the U.S. Department of Commerce to recalculate the anti-dumping margin for Hyundai Steel Co. products, a partial victory for South Korea's second-largest steelmaker.

US Court of International Trade Judge Jane Restany said Wednesday (local time) that the Commerce Department's final results in its anti-dumping investigation into South Korean steel products should be factored in.

In 2015, the Commerce Department launched an investigation into the possible sale of corrosion-resistant steel products from South Korea and other countries, claiming they were being sold at an unfairly low price.

In May 2016, the division calculated a final rate of 47.8 percent for Hyundai steel products, using the unfavorable finding in addition to the available facts.

Margins have jumped more than 13-fold since January 4, 2016, when the commerce department set a preliminary anti-dumping duty of 3.51 percent for Hyundai steel products.

Hyundai has requested that the court make a final decision, supported by substantive evidence, otherwise it is an action not in accordance with the law. Hyundai also asked that the decision lead to a bug fix.

Hyundai argued that the Department of Commerce did not apply a "special rule" applicable to value-added goods after being imported into Hyundai blanks and auto parts.

However, the court stated that the department's decision not to apply the “special rule” was reasonable.

The court also said the commercial statement was reasonable in relation to Hyundai's sales of custom-made auto parts, but unreasonable when it came to Hyundai's sales of sheet steel and coil.