26 June 2009 06:42 [Source: ICIS news]
By Judith Wang
Industry sources said the latest move showed ?xml:namespace>
"Trade disputes will increase when the economy is not good. Anti-dumping is a common measure to deter imports and to protect [the] domestic industry," Yan Beina, an analyst from Shanghai-based brokerage house Guosen Securities said.
"In the long run, the imports from the
The security deposit ratio ranged from 5.7％-35.4％, depending on the levels of "dumping" by different companies from these countries, the ministry said on its website.
A source from Rhodia Polyamide co in South Korea took solace in the fact that although the company was slapped with a 6% security deposits for all its China-bound exports, it was one of the lowest rates when compared to the other companies.
"But we [will] probably reduce exports to China in the future and focus on other markets in Asia, for example, Japan and Taiwan," the source added.
The measure would hinder imports to some extent, most adipic acid producers and traders said, but added that they were also waiting for the reaction from the market as the policy had just come out in the morning.
“However, we will consider to buy imports as long as the price is reasonable,” an end-user in eastern
“These moves also prove that
Adipic acid is primarily used in the production of nylon 6,6 and for manufacturing polyurethanes and polyester resins which are in turn used in automotive texiles and shoes. It’s feedstocks include benzene, cyclohexane and ammonia.
China’s adipic acid producers include Shandong Hongye Chemical, Shandong Haili and Liaoyang Petrochemical.
?xml:namespace> Company Security Deposit Ratio Rhodia Polyamide Co. Ltd. 6.0% Asahi Kasei Chemicals Korea Co. 5.7% All others 16.7% European Union RADICI CHIMICA S.p.A 11.3% RADICI CHIMICA DEUTSHLAND GMBH 11.3% BASF SE 18.1% All Others 30.3% US Solutia Inc. 16.8% All Others 35.4%
Security Deposit Ratio
Rhodia Polyamide Co. Ltd.
Asahi Kasei Chemicals Korea Co.
RADICI CHIMICA S.p.A
RADICI CHIMICA DEUTSHLAND GMBH
With additional reporting byYu Guo and Dolly Wu.
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