(Yicai Global) Feb. 13 -- China has brought in countervailing duties between 5 and 10.7 percent on styrene imports from the U.S., South Korea and Taiwan following an anti-dumping probe.
Dumping activities rife among firms from South Korea, Taiwan and the U.S. have caused material damage to the domestic styrene industry, China's commerce ministry said in a statement.
The probe followed a petition filed in May last year by domestic firms, Macau New Solar Co., Tianjin Dagu Chemical Co., Jiangsu Leasty Chemical Co., Changzhou Donghao Chemical Co., Ningbo Keyuan Plastics Co. and Shandong Shengyuan Petrochemical Technology Co., which called for intervention from regulators.
Styrene is an important, basic raw material for producing organic chemicals. It can be used to manufacture synthetic fuel intermediate anthraquinone, pesticide emulsifiers, pharmaceuticals, and mineral processing agent styrene phosphonic acid.