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China's Ministry of Commerce (MOFCOM) on Tuesday announced the mid-term anti-dumping examination result concerning the Republic of Korea (ROK) companies that export styrene butadiene rubber to China.
According to the announcement, China decided to lower the anti-dumping duty rate on imported styrene butadiene rubber from the ROK-based LG Daesan Petrochemical Ltd., successor of the Hyundai Petrochemical Co., Ltd., from 19 percent to 4.15 percent.
China will impose 27-percent anti-dumping duty on styrene butadiene rubber from other ROK exporters in name of the Hyundai Petrochemical Co., said the ministry.
On October 9, 2004, the Hyundai Petrochemical Co. submitted applications to MOFCOM for reconsidering the antidumping rate according to the changed circumstances.
Later the company was separated and the LG company inherited the obligations and rights in the antidumping case.
Styrene butadiene rubber is a raw chemical material used in tires and other rubber products. China levied anti-dumping tax on imported rubber from Russia, ROK and Japan in September 2003.
(Xinhua News Agency December 14, 2005)
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