12 February 2009 03:11 [Source: ICIS news]
SINGAPORE (ICIS news)--China will start investigations into alleged dumping of purified terephthalic acid (PTA) by South Korean and Thai suppliers into the country, its Ministry of Commerce (MoC) said on Thursday.
The ministry statement posted on its website said the investigations started today and would end in a year’s time. If necessary, the probe could be extended by another six months to 12 August 2010, it added.
Chinese producers Hualian Sunshine Petrochemical, Yisheng Petrochemical and Xiang Lu Petrochemical submitted a request to carry out the investigations on 12 December last year, the ministry said.
The ministry further added that Liaoyang Petrochemical and Oriental Petrochemical (?xml:namespace>
PTA spot prices were currently at $795-805/tonne (€612-620/tonne) CFR China, up $35-45/tonne from the previous week’s close due to strong demand.
($1 = €0.77)
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