Chinese Phenol Update
Corrected: China imposes preliminary ADDs on phenol imports from five origins
Source: ICIS News
Correction: In the ICIS news story headlined “China imposes preliminary ADDs on phenol imports from five origins” dated 27 May please read in the first paragraph, “…antidumping duties (ADDs) of 11.9%…” instead of “…antidumping duties (ADDs) of 28.9%…”, and in the second paragraph “…which started on 26 March…” instead of “…which started on 28 March…”. A corrected version follows.
SINGAPORE (ICIS)–China has imposed preliminary antidumping duties (ADDs) of 11.9% to 129.6% on phenol imports from the US, EU, South Korea, Japan and Thailand with immediate effect.
Container ships docked at the Yangshan port in Shanghai, China. (Source: AP/REX/Shutterstock)The Chinese Ministry of Commerce announced on Monday the preliminary results of its ADD probe, which started on 26 March 2018.
|US||INEOS Americas LLC||129.6%|
|US||Blue Cube Operations LLC||125.4%|
|US||Other US companies||129.6%|
|Europe||INEOS Phenol GmbH||82%|
|Europe||INEOS Phenol Belgium NV||82%|
|Europe||Other European companies||82%|
|South Korea||Kumho P&B Chemicals, Inc||13.9%|
|South Korea||LG Chemicals||13.3%|
|South Korea||Other South Korean companies||23.7%|
|Japan||Other Japanese companies||81.2%|
|Thailand||PTT Phenol Company Limited||11.9%|
|Thailand||Other Thai companies||28.6%|
Source: China Ministry of Commerce
The release of the probe’s preliminary results had been delayed by the 90-day US-China trade war truce from early December 2018.
Market players expect China’s ADDs on phenol imports to be finalized in November.
China conducted the probe on the petition of domestic producers, including PetroChina Jilin Petrochemical, Changshu Changchun, CEPSA Shanghai, Sinopec Mitsui Chemicals, Bluestar Harbin Petrochemical, Yangzhou Shiyou and Huizhou Zhongxin.
The investigation covered the period 1 January 2014 to 30 September 2017.
US phenol imports (by country)
For US-origin phenol, the ADD is on top of the 10% import duty imposed in August 2018, a month since the US-China trade war began.
Since the fourth quarter of last year, there had been no US-origin phenol exported to China.
(Adds paragraphs 3-8, pie charts)