Trusted Market and Commodities-Trade Intelligence
The Ministry of Commerce of the People’s Republic of China (MOFCOM) decided to make an anti-dumping investigation into the phenol produced in and imported from the US, the EU, South Korea, Japan and Thailand from 26 March 2018.
Earlier on 2 February, the MOFCOM received an application officially made by domestic business representatives including PetroChina Company Limited Jilin Petro Branch, Changchun Chemical (Jiangsu) Co., Ltd., CEPSA Chemical (Shanghai) Co., Ltd., Shanghai Sinopec Mitsui Chemicals Co., Ltd., China BlueStar Harbin Petrochemical Co., Ltd., Shiyou Chemical (Yangzhou) Co., Ltd. and Huizhou Zhongxin Chemical Co., Ltd. (hereinafter referred to as “applicant”). They requested an anti-dumping investigation into the phenol produced in and imported from the US, the EU, South Korea, Japan and Thailand.
The MOFCOM agreed to process this application, in accordance with the Regulations of the People's Republic of China on Anti-dumping. Based on the evidence offered by the applicant and the primary examination carried out by the ministry, the combined output of phenol of the applicant and the supporting enterprises made up 50%+ of the national figure in 2014, 2015, 2016 and Q1-3 2017 respectively. This is in line with Article 11 and Article 13 under the Regulations of the People's Republic of China on Anti-dumping which make provisions for the domestic business to apply for anti-dumping investigation.
The application said, “The phenol produced in the US, the EU, South Korea, Japan and Thailand has been exported to China for sale at prices lower than normal value. Its quantity has increased greatly and its price has decreased significantly. This has forced down the price of domestically made similar product. Furthermore, the market shares occupied by the domestic business have reduced, the overall sales price and profit before tax have gone down sharply and the return on investment has fallen. All these are material injury to the domestic business and are directly caused by the dumping in need of investigation.” Upon examination, the MOFCOM stated that the content and evidence in the application are up to Article 14 and Article 15 under the Regulations of the People's Republic of China on Anti-dumping which stipulate the projecting of an anti-dumping investigation.