US Commerce Department exempts POSCO from anti-dumping duties

In a recent development, the U.S. Department of Commerce has determined that South Korea's leading producer and exporter of carbon and alloy steel wire rod, POSCO, will be exempt from anti-dumping duties (AD). The comprehensive review, covering the period from May 1, 2021, to April 30, 2022, revealed that POSCO did not engage in selling its products below fair value in the United States.

As of June 2, 2023, the Department of Commerce officially announced a weighted average dumping margin of zero for POSCO, signifying the absence of any unfair trade practices during the specified time frame. This decision, effective as of November 28, 2023, underscores the Department's confidence in POSCO's adherence to fair pricing standards in its dealings with the U.S. market.

The outcome of this review is anticipated to have positive implications for POSCO, offering a significant boost to its standing in the U.S. steel industry.