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| South Korea launches anti-dumping investigation on Chinese petroleum resins |
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On August 2, the Korea Trade Commission issued an announcement (Case Investigation 23-2024-6) stating that it would initiate an anti-dumping investigation on petroleum resins from mainland China and Taiwan in response to an application submitted by the Korean manufacturer Kolon Industries on May 31, 2024. The dumping investigation period for this case is from January 1, 2023 to December 31, 2023,and the injuryinvestigation period is from January 1, 2020 to December 31, 2023. This case involves products under Korean tariff number 3911.10.1000, and C9 petroleum resins with a softening point (melting point) of 130°C or higher are not involved in the case. Unless otherwise extended (up to two months), the preliminary ruling is expected to be made within three months from the date of filing.
According to the export data released by the General Administration of Customs of the People's Republic of China on primary forms of petroleum resins, etc. (39111000), China's total exports of petroleum resins to South Korea in 2023 will be 20,300 tons, accounting for only 5.07% of China's total exports of petroleum resins. From January to June 2024, China's total exports of petroleum resins to South Korea were 1.10 tons,down 19.01% year-on-year from the same period last year, accounting for 4.65% of the total exports from January to June. China's exports of petroleum resins to South Korea have declined. In terms of total exports,China's exports of petroleum resins to South Korea are relatively small, and more of China's petroleum resins are sourced from Southeast Asia, South Asia, and traditional European markets.In addition, China's petroleum resin export destinations are relatively scattered. According to customs data, China's petroleum resin export trading partners in 2023 totaled 120 countries, and the concentration was relatively low.The total volume of the TOP5 trading partners accounted for only 36%. This anti-dumping case has limited actual impact on China's global petroleum resin export pattern. China's exports of petroleum resins to South Korea are relatively small, and this case has limited impact on China's current global exports of petroleum resins. 
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