Turkey slaps anti-dumping deposits on China PVC

17 August 2006 12:05  [Source: ICIS news]

SINGAPORE (ICIS news)--Turkey has imposed a $320/tonne anti-dumping deposit on Chinese polyvinyl chloride (PVC) imports effective from 15 August, market sources said on Thursday.

 

The deposit, or temporary obligation, has been levied pending a decision on actual duties on Chinese PVC imports into Turkey in the near future, an Istanbul-based trader said.

 

Chinese PVC imports have increased dramatically in the first seven months of 2006 to 45,000 tonnes from 6,030 tonnes in the whole of 2005, he added.

 

Previous anti-dumping duties on imports were in the range of $50-100/tonne, but they could be much higher in the case of Chinese imports due to high volumes, he said.

 

A second Turkish trader said the deposit had been imposed on all cargoes from China, including those which are in transit.

 

A global trader, who sells Chinese PVC cargoes to Turkey, said he had decided to divert his shipments to other destinations. He was uncertain about the extent to which his margins would be squeezed after the duties come into force.

 

Domestic PVC prices in Turkey rose by $20/tonne to $1,075-1,110/tonne delivered for August cargoes early this week in anticipation of the anti-dumping duty.

 

Prices of Chinese PVC exports were at $925/tonne CFR Turkey, excluding a 6.5% import tariff.

By: Prema Viswanathan
+65 6780 4359

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