UAS announced the results of the review of the countervailing duty on rebar from Turkiye

The investigation covered imports for 2021

The U.S. Department of Commerce (US DOC) has announced the preliminary results of an administrative review of the imposition of countervailing duties (CVD) on rebar from Turkiye, the Federal Register (The Daily Journal of the United States Government) reports.

The investigation covered the period from January 1 to December 31, 2021. The US Department of Commerce has preliminarily determined that the net rates of countervailing duties for Turkish suppliers Kaptan Demir Celik and Colakoglu Metalurji are 5.54% and 0.03%, respectively. These decisions were made as part of the US DOC’s ongoing efforts to ensure fair trade practices and protect domestic industry. The measures came into force on December 7, 2023.

The US Department of Commerce also announced that it had canceled the review of countervailing duties on imports of these products for 15 companies and intends to cancel it for four more. The final results of the review are expected to be announced within 120 days after the publication of the preliminary results.

As GMK Center reported earlier, in January-September 2023, steelmakers of Turkiye reduced exports of rebar by 44.9% year-on-year – to 2.5 million tons. In September, the main consumers of Turkish rebar were Israel – 589.4 thousand tons (+25% y/y) and Yemen – 552.1 thousand t (-2.6 y/y). Ethiopia is in the third place – 213.91 thousand tons (+3.5 times y/y).

Also, world prices for rebar during November 2023 have grown in most global markets, in particular in Turkiye and China. Growth was supported by a sharp increase in the cost of raw materials and production costs, while real demand was weak.