# Unwrought Palladium From the Russian Federation: Preliminary Affirmative Determination of Sales at Less-Than-Fair Value
**AGENCY:**
Enforcement and Compliance, International Trade Administration, Department of Commerce.
**SUMMARY:**
The U.S. Department of Commerce (Commerce) preliminarily determines that unwrought palladium (palladium) from the Russian Federation (Russia) is being, or is likely to be, sold in the United States at less than fair value (LTFV). The period of investigation (POI) is January 1, 2025, through June 30, 2025. Interested parties are invited to comment on this preliminary determination.
**DATES:**
Applicable February 19, 2026.
**FOR FURTHER INFORMATION CONTACT:**
Benjamin Nathan or Rebecca Janz, AD/CVD Operations, Office II, Enforcement and Compliance, International Trade Administration, U.S. Department of Commerce, 1401 Constitution Avenue NW, Washington, DC 20230; telephone: (202) 482-3834 or (202) 482-2972, respectively.
**SUPPLEMENTARY INFORMATION:**
**Background**
This preliminary determination is made in accordance with section 733(b) of the Tariff Act of 1930, as amended (the Act). Commerce published the notice of initiation of this investigation on August 22, 2025. [^1] Due to the lapse in appropriations and Federal Government shutdown, on November 14, 2025, Commerce tolled all deadlines in administrative proceedings by 47 days. [^2] Additionally, due to a backlog of documents that were electronically filed via Enforcement and Compliance's Antidumping and Countervailing Duty Centralized Electronic Service System (ACCESS) during the Federal Government shutdown, on November 24, 2025, Commerce tolled all deadlines in administrative proceedings by an additional 21 days. [^3]
[^1]*See Unwrought Palladium from the Russian Federation: Initiation of Less-Than-Fair-Value Investigations,* 90 FR 41032 (August 22, 2025) ( *Initiation Notice* ).
[^2]*See* Memorandum, “Deadlines Affected by the Shutdown of the Federal Government,” dated November 14, 2025.
[^3]*See* Memorandum, “Tolling of all Case Deadlines,” dated November 24, 2025.
For a complete description of the events that followed the initiation of this investigation, *see* the Preliminary Decision Memorandum. [^4] A list of topics included in the Preliminary Decision Memorandum is included as Appendix II to this notice. The Preliminary Decision Memorandum is a public document and is on file electronically via ACCESS. ACCESS is available to registered users at *https://access.trade.gov.* In addition, a complete version of the Preliminary Decision Memorandum can be accessed directly at *https://access.trade.gov/public/FRNoticesListLayout.aspx.*
[^4]*See* Memorandum, “Decision Memorandum for the Preliminary Affirmative Determination in the Less-Than-Fair-Value Investigation of Unwrought Palladium from the Russian Federation,” dated concurrently with, and hereby adopted by, this notice (Preliminary Decision Memorandum).
**Scope of the Investigation**
The product covered by this investigation is palladium from Russia. For a complete description of the scope of this investigation, *see* Appendix I.
**Scope Comments**
In accordance with the *Preamble* to Commerce's regulations, [^5] the *Initiation Notice* set aside a period of time for parties to raise issues regarding product coverage ( *i.e.,* scope). [^6] No interested party commented on the scope of the investigation as it appeared in the *Initiation Notice.* Accordingly, Commerce is not preliminarily modifying the scope language as it appeared in the *Initiation Notice.*
[^5]*See Antidumping Duties; Countervailing Duties, Final Rule,* 62 FR 27296, 27323 (May 19, 1997) ( *Preamble* ).
[^6]*See Initiation Notic* e, 90 FR at 41033.
**Methodology**
Commerce is conducting this investigation in accordance with section 731 of the Act. Furthermore, pursuant to sections 776(a) and (b) of the Act, Commerce preliminarily has relied upon facts otherwise available, with adverse inferences, for the Russia-wide entity. For a full description of the methodology underlying Commerce's preliminary determination, *see* the Preliminary Decision Memorandum.
**Combination Rates**
In the *Initiation Notice,*[^7] Commerce stated that it would calculate producer/exporter combination rates for the respondents that are eligible for a separate rate in this investigation. Policy Bulletin 05.1 describes this practice. [^8] In this case, because no respondent applied for a separate rate, producer/exporter combination rates were not calculated.
[^7]*Id.,* 90 FR at 41036.
[^8]*See* Enforcement and Compliance's Policy Bulletin No. 05.1, regarding, “Separate-Rates Practice and Application of Combination Rates in Antidumping Investigations involving Non-Market Economy Countries,” (April 5, 2005) (Policy Bulletin 05.1), available on Commerce's website at *https://enforcement.trade.gov/policy/bull05-1.pdf.*
**Preliminary Determination**
Commerce preliminarily determines that the following estimated weighted-average dumping margin exists:
| Producer/exporter | Estimated |
| --- | --- |
| Russia-wide Entity * | 132.83 |
**Suspension of Liquidation**
In accordance with section 733(d)(2) of the Act, Commerce will direct U.S. Customs and Border Protection (CBP) to suspend liquidation of subject merchandise, as described in Appendix I, entered, or withdrawn from warehouse, for consumption on or after the date of publication of this notice in the *Federal Register**,* as discussed below. Further, pursuant to section 733(d)(1)(B) of the Act and 19 CFR 351.205(d), Commerce will instruct CBP to require a cash deposit equal to the weighted average amount by which normal value exceeds U.S. price, as indicated in the chart above as follows: (1) for all combinations of Russian producers/exporters of merchandise under consideration that have not established eligibility for their own separate rates, the cash deposit rate will be equal to the estimated weighted-average dumping margin established for the Russia-wide entity; and (2) for all third-county exporters of merchandise under consideration not listed in the table above, the cash deposit rate is the cash deposit rate applicable to the Russia producer/exporter combination ( *i.e.,* the Russia-wide entity) that supplied that third-country exporter.
To determine the cash deposit rate, Commerce normally adjusts the estimated weighted-average dumping margin by the amount of domestic subsidy pass-through and export subsidies determined in a companion countervailing duty (CVD) proceeding when CVD provisional measures are in effect. However, Commerce has not yet made a preliminary CVD determination. Accordingly, Commerce has not offset the estimated weighted-average dumping margin in this preliminary determination.
These suspension of liquidation instructions will remain in effect until further notice.
**Disclosure**
Normally, Commerce discloses to interested parties the calculations performed in connection with a preliminary determination within five days of its public announcement or, if there is no public announcement, within five days of the date of publication of the notice of preliminary determination in the *Federal Register* , in accordance with 19 CFR 351.224(b). However, because Commerce preliminarily applied total facts otherwise available with adverse inferences to the Russia-wide entity in this investigation, in accordance with section 776 of the Act, there are no calculations to disclose.
**Verification**
Because the respondent in this investigation did not provide information requested by Commerce and Commerce preliminarily determines the mandatory respondent to have been uncooperative, verification will not be conducted.
**Public Comment**
Case briefs or other written comments may be submitted to the Assistant Secretary for Enforcement and Compliance no later than 30 days after the date of publication of the preliminary determination. [^9] Rebuttal briefs, limited to issues raised in the case briefs, may be filed not later than five days after the date for filing case briefs. [^10] Interested parties who submit case or rebuttal briefs in this proceeding must submit: (1) a table of contents listing each issue; and (2) a table of authorities. [^11]
[^9]*See* 19 CFR 351.309(c)(1)(i); *see also* 19 CFR 351.303 for general filing requirements.
[^10]*See* 19 CFR 351.309(d); *see also Administrative Protective Order, Service, and Other Procedures in Antidumping and Countervailing Duty Proceedings,* 88 FR 67069, 67077 (September 29, 2023) ( *APO and Service Final Rule* ).
[^11]*See* 19 351.309(c)(2) and (d)(2).
As provided under 19 CFR 351.309(c)(2)(iii) and (d)(2)(iii), we request that interested parties provide at the beginning of their briefs a public, executive summary for each issue raised in their briefs. [^12 ] Further, we request that interested parties limit their executive summary of each issue to no more than 450 words, not including citations. We intend to use the executive summaries as the basis of the comment summaries included in the issues and decision memorandum that will accompany the final determination in this investigation. We request that interested parties include footnotes for relevant citations in the executive summary of each issue. Note that Commerce has amended certain of its requirements pertaining to the service of documents in 19 CFR 351.303(f). [^13]
[^12] We use the term “issue” here to describe an argument that Commerce would normally address in a comment of the Issues and Decision Memorandum.
[^13]*See APO and Service Final Rule,* 88 FR at 67080.
Pursuant to 19 CFR 351.310(c), interested parties who wish to request a hearing, limited to issues raised in the case and rebuttal briefs, must submit a written request to the Assistant Secretary for Enforcement and Compliance, U.S. Department of Commerce, within 30 days after the date of publication of this notice. Requests should contain the party's name, address, and telephone number; the number of participants and whether any participant is a foreign national; and a list of the issues to be discussed. If a request for a hearing is made, Commerce intends to hold the hearing at a time and date to be determined.
**Final Determination**
Section 735(a)(1) of the Act and 19 CFR 351.210(b)(1) provide that Commerce will issue the final determination within 75 days after the date of its preliminary determination. Accordingly, Commerce will make its final determination no later than 75 days after the signature date of this preliminary determination.
**U.S. International Trade Commission Notification**
In accordance with section 733(f) of the Act, Commerce will notify the U.S. International Trade Commission (ITC) of its preliminary determination of sales at LTFV. If the final determination is affirmative, the ITC will determine before the later of 120 days after the date of this preliminary determination or 45 days after the final determination whether imports of the subject merchandise are materially injuring, or threaten material injury to, the U.S. industry.
**Notification to Interested Parties**
This determination is issued and published in accordance with sections 733(f) and 777(i)(1) of the Act, and 19 CFR 351.205(c).
Dated: February 9, 2026.
Christopher Abbott,
Deputy Assistant Secretary for Policy and Negotiations, performing the non-exclusive functions and duties of the Assistant Secretary for Enforcement and Compliance.
**Appendix I**
**Scope of the Investigation**
The scope of this investigation is unwrought palladium. Unwrought palladium includes palladium, whether or not refined, in the form of ingots, blocks, lumps, billets, cakes, slabs, pigs, cathodes, anodes, briquettes, cubes, sticks, grains, sponge, pellets, shot, powder, and similar primary forms.
Unwrought palladium is covered by the scope regardless of production method. The scope includes unwrought palladium produced through ore extraction, unwrought palladium produced by recycling palladium-containing scrap, unwrought palladium produced by any other method, and blends of unwrought palladium produced by different methods.
The scope includes unwrought palladium that is commingled with unwrought palladium from sources not subject to this investigation or commingled with other metals. Only the subject unwrought palladium component of such commingled products is covered by the scope of this investigation.
Subject merchandise includes merchandise matching the above description that has been finished, packaged, or otherwise processed in a third country, including by refining, grinding, commingling, adding or removing additives (such as other metals), or performing any other finishing, packaging, or processing that would not otherwise remove the merchandise from the scope of the investigation if performed in the subject country.
The covered merchandise is currently classified in the Harmonized Tariff Schedule of the United States (HTSUS) at subheading 7110.21.0000. Unwrought palladium meeting the scope description may also enter under HTSUS subheading 7110.29.0000. Although the HTSUS subheadings are provided for convenience and for customs purposes, the written description of the subject merchandise is dispositive.
**Appendix II**
**List of Topics Discussed in the Preliminary Decision Memorandum**
I. Summary
II. Background
III. Period of Investigation
IV. Discussion of the Methodology
V. Adjustment Under Section 777(A)(f) of the Act
VI. Adjustments to Cash Deposit Rates for Export Subsidies in the Companion Countervailing Duty Investigation
VII. Recommendation