China said it was to look at imposing anti-dumping duties (ADDs) on styrene monomer imports from South Korea, in a letter dated Monday.
The proposed ADD was a result of a recent petition filed by Chinese producers to decrease competition from South Korea, sources said Tuesday.
Market participants said despite news they were skeptical that ADDs would be imposed any time soon.
South Korea is the largest exporter of styrene monomer to China, shipping 1.23 million mt of styrene in 2016, or 35% of China’s SM imports.
For comparison, China’s domestic SM production stands at about 8.39 million mt/year, according to industry sources.
The Asian styrene monomerCFR China marker closed at $1,145/mt Tuesday, up $10/mt from Monday.
