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The US refrained from imposing antidumping duties on cold-rolled steel from Hyundai Steel Co. and POSCO, which would help boost trade between the two countries.
The US Department of Commerce determined that cold-rolled steel prices were not sold in the US at prices below standard value during the antidumping period of review, from September 1, 2017, through August 31, 2018.
According to the department in the final results of its antidumping duty review, it calculated 0.00 percent weighted-average dumping margins for the steel imports.
The department's decision came eight months after it published its preliminary results of the case's administrative review.
The two steel South Korean companies said the decision could positively impact their exports to the US. However, an export quota could limit an increase in the volume of cold-rolled steel exports to the US under the US Trade Expansion Act.
POSCO and Hyundai Steel exported 40,000 tons and 30,000 tons of cold-rolled steel to the US, respectively, during the review period.
