MOSCOW (MRC) -- Seoul said it protested strongly against China’s initiation of an anti-dumping probe into South Korea’s styrene monomer (SM) imports, as per GV.
South Korea’s Ministry of Trade, Industry and Energy said it "strongly" urged a "fair investigation" into the SM anti-dumping allegation at a public hearing held by the Chinese commerce ministry in Beijing on Tuesday (28 Nov 2017).
South Korea is the largest SM exporter to China. It shipped USD 1.25 billion worth of SM products to China last year, commanding a 30 % share among exporters of the item to China.
Beijing began the investigation in June after six Chinese petrochemical companies claimed unfairly cheap SM imports from South Korea, Taiwan and the United States were hurting the local SM industry.
Seoul denied the charges, claiming that Korean firms have been selling products at prices determined by global supply and demand.
As MRC reported earlier, in June 2017, China's Ministry of Commerce has initiated anti-dumping investigations on SM imports from South Korea, Taiwan and the US, following a recent petition filed by Chinese SM producers.
MRC