BUSINESS

US trade commission starts antidumping probe on Korean fiber product

By Yonhap
  • Published : Aug 11, 2017 - 15:33
  • Updated : Aug 11, 2017 - 15:33

The US International Trade Commission said Thursday it will launch an antidumping duty investigation into low melt polyester staple fiber imported from South Korea and Taiwan.

The commission determined there was "a reasonable indication" that the products from the two countries are being sold in the US at less than their fair value, according to a press release.

(Screen grab of US Commerce Department's website)

A preliminary decision is due on or around Dec. 4, it said.

The US Commerce Department will conduct the probe that was initiated in June after a petition by Nan Ya Plastics Corp. South Korea is alleged to have applied between 39.24 percent and 52.23 percent in dumping margins. 

South Korea's low melt PSF is exported to the US tariff-free under a bilateral free trade agreement and has 68.2 percent market share. Last year's exports of the product to the US amounted to $76.56 million for 63,086 tons. (Yonhap)