DOC Corrects Math, Amends OCP’s Ad Valorem Rate
The U.S. Commerce Department amended OCP’s preliminary ad valorem rate down to 16.88% in a memo filed on December 21. The DOC had initially calculated the OCP Group subsidy rate at 23.46%.
The reduction was in response to a November 30 filing alleging that Commerce made significant ministerial errors in the Preliminary Determination with respect to OCP’s subsidy rate.
Mosaic’s shares were trading down 4.88% today at $22.01 per share. ITC Final Determinations are scheduled for January 21, 2021.