Washington has granted the first delisting of a steel product from the quota set on Korean steel imports, raising hopes for Korean steelmakers for more exemptions.

The U.S. Commerce Department on Monday accepted a request from local medical devices manufacturer Micro Stamping Corporation to exclude products made by Korea’s SL Tech Co. from the import quota rule. Micro Stamping has been using superfine steel tubes manufactured by SL Tech to produce medical devices. Poongsan Special Metal Corp. re-processed Posco’s stainless hot rolled material into STS ultrathin cold rolled material before supplying them to SL Tech, a manufacturer of superfine steel pipes such as injection needles.

Last month, the U.S. department said it could ease on the quota rule upon review on petition from U.S.-based industry or businesses for damage from lacking steel materials from Korea, Argentina, and Brazil.

Since May, the Donald Trump administration has levied a quota to turn away Korean steel beyond 70 percent of annual average shipments over the past three years after exempting the country name from a sweeping 25-percent tariff on all non-U.S. steel and aluminum products.

Korea’s Ministry of Trade, Industry and Energy, along with Korean steelmakers including Posco have been petitioning to gain exemptions from the quota.

The latest pardon will likely accelerate the push by Korean steelmakers to persuade petitioning through their U.S. clients.

By Woo Je-yoon and Lee Eun-joo

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]