Cold-Rolled Steel Flat Products: Prelim CV Cash Deposit Rates Take Effect
The Commerce Department made preliminary affirmative countervailing duty determinations that imports of cold-rolled steel flat products from Brazil (C-351-844) (here), India (C-533-866) (here), China (C-570-030) (here) and Russia (C-821-823) (here) are being illegally subsidized. The agency will impose CV duty cash requirements on entries of subject merchandise from Brazil, India and Russia beginning on Dec. 22, and from China beginning on Sept. 23 or Dec. 22, depending on whether Commerce found "critical circumstances" for the producer/exporter of the merchandise.
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Commerce did not find any illegal subsidization of South Korean exporters of cold-rolled steel flat products, and will not suspend liquidation or impose cash deposit requirements at this time, it said (here). Merchandise subject to this investigation is also the subject of an antidumping duty investigation. The preliminary AD duty determination is currently due in February (see 1511270026).
Critical Circumstances for Some, Cash Deposits Retroactive 90 Days
Commerce made a finding that some companies in China increased their exports to the U.S. in the months before this the preliminary determination, in an attempt to get in as much product as possible before the imposition of cash deposit requirements. This "critical circumstances" finding by the agency allows it to retroactively suspend liquidation and require AD duty cash deposits for subject merchandise for Angang Hong Kong, Benxi Iron and Steel and Qian'an Golden Point to 90 days before the preliminary determination, i.e. Sept. 23. Merchandise from all other companies is subject to suspension of liquidation and cash deposit requirements beginning Dec. 22.
CV Suspension of Liquidation and Cash Deposit Requirements
Commerce will instruct CBP to suspend liquidation for all entries of subject merchandise that are entered, or withdrawn from warehouse, on or after the dates listed in the tables below, and require cash deposits at the following rates
China
| Company | CV Rate | Sus. Liq. |
|---|---|---|
| Angang Group Hong Kong Co., Ltd. | 227.29% | 09/23/15 |
| Benxi Iron and Steel (Group) Special Steel Co., Ltd. | 227.29% | 09/23/15 |
| Qian’an Golden Point Trading Co., Ltd. | 227.29% | 09/23/15 |
| All Others | 227.29% | 12/22/15 |
Brazil
| Company | CV Rate | Sus. Liq. |
|---|---|---|
| Companhia Siderurgica Nacional | 7.42% | 12/22/15 |
| Usinas Siderurgicas de Minas Gerais S.A. | 7.42% | 12/22/15 |
| All Others | 7.42% | 12/22/15 |
India
| Company | CV Rate | Sus. Liq. |
|---|---|---|
| JSW Steel Limited and JSW Steel Coated Products Limited | 4.45% | 12/22/15 |
| All Others | 4.45% | 12/22/15 |
Russia
| Company | CV Rate | Sus. Liq. |
|---|---|---|
| PAO Severstal, Severstal Export GmbH, JSC Karelsky Okatysh, AO OLKON, AO Vorkutaugol, and JSC Vtorchermet | zero* | N/A |
| Novolipetsk Steel OJSC, Novex Trading (Swiss) S.A., Altai-Koks OJSC, Dolomite OJSC, Stoilensky OJSC, Studenovskaya (Stagdok) OJSC, Trading House LLC, Vtorchermet NLMK LLC, Vtorchermet OJSC, and Vtorchermet NLMK Center LLC | 6.33% | 12/22/15 |
| All Others | 6.33% | 12/22/15 |
*Companies that received a zero rate in this preliminary determination will not be subject to suspension of liquidation and cash deposit requirements until further notice. If any of these companies' zero rates are confirmed in Commerce's final determination, they will be permanently exempt from the resulting CV duty order issued on corrosion resistant steel.
(The period of investigation is 01/01/14 - 12/31/14. See Commerce's notice for more information, including the scope (unchanged since initiation), suspension of liquidation, etc. See 1508210011 for summary of the initiation of this CV duty investigation, and 1508030017 for summary of the underlying petition.)
(Federal Register 12/22/15)