US accuses S Korean plastics component exporters of dumping

The United States has said South Korean companies were importing a resin used in making plastics at less than fair value.

The Commerce Department finding yesterday vindicated a complaint lodged by the Eastman Chemical Company, a major US producer of specialty plastics.

An anti-dumping investigation by the department determined Korean imports of Dioctyl terephthalate, or DOTP, had been sold in the United States at prices between 2.7 and four per cent below fair value.

US Customs agents have been instructed to collect cash payments based on the determination.

US imports of the product from South Korea amounted to USD 32.5 million last year.

Part of a group of products known as plasticizers, the compound is a viscous liquid used to make resins more flexible and easier to turn into plastics, according to the department.

The Commerce Department is due to make a final determination on the extent of harm caused to US producers by August 3.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)