U.S. ordered to recalculate antidumping margin of Hyundai Steel products

SEOUL, Jan. 11 (Yonhap) -- A U.S. court ordered the U.S. Commerce Department to recalculate the antidumping margin of Hyundai Steel Co. products in a partial victory for South Korea's second-biggest steelmaker. Jane A. Restani, a judge of the U.S. Court of International Trade, said in a slip opinion on Wednesday (local time) that the Commerce Department's final results in its antidumping duty investigation of South Korean corrosion-resistant steel products should be remanded. In 2015, the Commerce Department launched an investigation over the possible sale of corrosion-resistant steel products from South Korea and other countries, claiming they were being sold at less than fair value. The department calculated a final dumping margin of 47.8 percent for Hyundai's steel products in May 2016 by applying an adverse inference to the facts available (AFA). It marked a dramatic hike from Jan. 4, 2016, when the commerce department determined a preliminary antidumping duty of 3.51 percent for Hyundai steel products.