The US Department of Commerce (USDOC) has released its preliminary determination for an administrative review of countervailing duties (CVD) on certain carbon and alloy steel cut-to-length plate (CTL plate) from South Korea, ruling that certain producers and exporters of the subject goods received countervailable subsidies during the review period from January 1, 2023, to December 31, 2023.

As a result, a preliminary net countervailable subsidy rate of 4.31% has been calculated for POSCO Co. Ltd.

Besides, the administrative review was also rescinded for 54 other companies, including Dongbu Steel Co., Ltd., Dongkuk Industries Co., Ltd., and Hyundai Steel Co.

The final results of this review are expected to be published within 120 days of the publication of these preliminary results.