Sep. 20, 2024
On September 3, 2019, the Ministry of Commerce of the People’s Republic of China announced the imposition of anti-dumping duties beginning from September 6, 2019, on imported phenol originating in the United States, the European Union, Korea, Japan, and Thailand, with duty rate of 244.3%-287.2% on the U.S. companies, 30.4% on the EU companies, 12.5%-23.7% on the Korean companies, 19.3%-27.0% on the Japanese companies and 10.6%-28.6% on the Thai companies, to be implemented for five years.
In April 2023, PPT Global Chemical Public Company Limited inherited PTT Phenol’s duty rate and other rights or obligations under the phenol-targeted anti-dumping measures.
With the ending of the transitional period of Brexit on December 31, 2020, the Chinese Ministry of Commerce clarified in its No. 3 Announcement of 2021 that the trade remedy measures previously imposed on the EU would continue to apply to the EU and the UK while the implementation period remains unchanged. In the event of new trade remedy investigations or cases of review, the United Kingdom is no longer treated as an EU member after Brexit.
On June 19, 2024, the Chinese Ministry of Commerce received an application for an expiry review of anti-dumping measures, as submitted by nine applicants, which include the Beijing Yanshan Branch of Sinopec as well as three supportive enterprises, which include SINOPEC SABIC Tianjin Petrochemical Co. Ltd, representing the Chinese domestic phenol industry. The applicants claim that if the anti-dumping measures are terminated, imported phenol originating in the above-mentioned countries might continue to cause damage to the Chinese phenol industry, requesting the Ministry of Commerce to conduct an expiry review investigation and maintain the current anti-dumping measures.
In accordance with Article 48 of PRC Anti-dumping Regulations, the Chinese Ministry of Commerce decided to conduct an expiry review investigation beginning from September 6, 2024 on the imported phenol originating in the United States, the European Union, Korea, Japan and Thailand. In the interim, the Chinese Customs Tariff Commission has decided to continue to levy anti-dumping duties in accordance with the product scope and duty rate as announced in the No. 37 Announcement of 2019 and the No. 15 Announcement of 2023. Meanwhile, beginning from September 6, 2024, the anti-dumping measures applicable to the imported phenol originating in the United Kingdom are terminated.
The anti-dumping duty rate applicable to suppliers is as follows:
U.S. companies: INEOS Americas LLC (287.2%); the U.S. Blue Cube Operations LLC (244.3%); the rest of U.S. companies (287.2%).
EU companies: 30.4% on all EU companies.
Korean companies: KUMHO P&B CHEMICALS, INC (12.5%); LG CHEM, LTD (12.6%); the rest of Korean companies (23.7%).
Japanese companies: Mitsui Chemicals, Inc. (19.3%); the rest of Japanese companies (27.0%).
Thai companies: PTT Global Chemical Public Company Limited (10.6%); the rest of Thai companies ( 28.6%).
The dumping investigating period under this review: From April 1, 2023 to March 31, 2024; industry injury investigation period: From January 1, 2020 to March 31, 2024.
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