FX.co ★ China Extends Anti-Dumping Duties on Phenol Imports

China has decided to extend its anti-dumping duties on phenol imports from the United States, the European Union, South Korea, Japan, and Thailand for an additional five years, starting on August 29. This announcement was made by the Ministry of Commerce on Thursday. The decision was based on a thorough review of the current anti-dumping measures, initiated in September 2024 at the behest of China's domestic industry. The ministry indicated that removing these duties could result in the continuation or recurrence of dumping, which might lead to further or renewed harm to domestic manufacturers. Phenol, a crucial organic chemical raw material, is predominantly used in the production of industrial materials.