China Extends Anti-Dumping Duties on Phenol from South Korea, US, Japan, and EU for Five More Years

China will extend its anti-dumping duties on phenol products imported from South Korea, the United States, Japan, the European Union (EU), and Thailand for another five years.

The Chinese Ministry of Commerce announced on its website on August 28 that, based on a recent review, there is a continued or renewed possibility of dumping of phenol products produced in these regions, and that the damage to China's domestic phenol industry may also persist or recur.

Steel products are piled up at Pyeongtaek Port in Gyeonggi Province. Photo by Yonhap News

Previously, since September 6, 2019, China has imposed anti-dumping duties ranging from 10.6% to 287.2% on phenol originating from South Korea, the United States, Japan, the EU, and Thailand. After the five-year period expired last year, China conducted an investigation to determine whether to continue the anti-dumping measures. Currently, the anti-dumping duty rate for South Korean companies stands at 12.5% to 23.7%.