China slaps ADD on PTA imports from S Korea, Thailand

12 August 2010 06:24  [Source: ICIS news]

SHANGHAI (ICIS)--China will impose anti-dumping duties (ADD) of 2%-20.1% on purified terephthalic acid (PTA) imports from South Korea and Thailand for five years from 12 August, the country’s Ministry of Commerce said on Thursday.

The government body said that dumping of imports from South Korea and Thailand had been seriously hurting China’s domestic PTA industry.

While PTA imports from South Korea would be levied an ADD in the range of 2%-11.2%, major Korean producers Samsung Petrochemical, KP Chemical and Sam Nam had their rates cut by 0.5-1.4 percentage points. 

PTA producers in Thailand would be required to pay between 6.0%-20.1% in ADD, which was much higher than expected, market players said. (Please see the table)  

China had been levying a provisional ADD on PTA imports from these two countries since 3 February when it launched its investigations into dumping activities following complaints from three domestic producers.

Apart from PTA, China would not levy ADD on other terephthalic acid products and would return any provisional ADD paid by the companies for these products during the investigation stage, the ministry said.

Country

Company

Finalised ADD, %

Provisional ADD, %

South Korea

Hyosung Corporation

2.6

2.7

 

Samsung Petrochemical Company Limited

2.0

3.4

 

SK Petrochemical Co., Ltd

11.2

3.5

 

Samnam Petrochemical Co., LTD

3.7

4.2

 

KP Chemical Corp

2.0

2.9

 

Taekwang Industrial Co

2.4

2.4

 

All others

11.2

11.2

Thailand

Indorama Petrochem Limited

16.9

18.9

 

Siam Mitsui PTA Co., Ltd

6.0

12.2

 

TPT Petrochemicals Public Company Limited

12.9

18.5

 

All others

20.1

20.1

With additional reporting by Becky Zhang in Singapore

To discuss issues facing the chemical industry go to ICIS connect
For more information on PTA, visit ICIS chemical intelligence


By: Judith Wang
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index