China to impose temporary anti-dumping duties on imports of "phenol"

Economy and stock exchange

China's Ministry of Commerce announced on Monday the imposition of temporary anti-dumping duties on "phenol" imported from the United States, the European Union, the Republic of Korea, Japan and Thailand.

The ministry said in a statement today that after a preliminary investigation, which began in March last year, the ministry decided that imports of phenol, an aromatic organic compound used as a pharmaceutical preservative, caused serious damage to the local industry.

The ministry added that phenol importers should place deposits at China Customs calculated according to the margin of dumping, ranging from 11.9 percent to 129.6 percent.

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