09 October 2013 08:46 [Source: ICIS news]
SINGAPORE (ICIS)--The expiry of China’s antidumping duty (ADD) measures on acrylate esters imports in 2014 is expected to have little impact on the domestic market, in view of increased output in the country, industry sources said on Wednesday.
The Ministry of Commerce announced on 8 October that its ADD measures on acrylate esters imports from Malaysia, Singapore and Indonesia will expire on 9 April 2014.
If there is no petition for an extension of the imposition in the 60 days before the expiry date, cargoes from the three southeast Asian countries will not be subject to ADD when the current ADD measure expires, the ministry added.
China has extended its antidumping measures for another five years from 2009, and the duty imposed is in the range of 2-49%, an industry source said.
Given the boost in China’s acrylates capacity in the past few years, it is less dependent on cargoes from the overseas market especially Malaysia, one market source said.
For example, Jiangsu Jurong has increased its crude acrylic acid (AA) capacity to 525,000 tonnes/year from 160,000 tonnes/year compared with several years ago, the market source said.
Jiangsu Jurong is a key acrylate esters producer in China, and crude AA is the major feedstock of acrylate esters.
The gradually rising acrylate esters output and larger scale of Chinese producers have significantly helped to ease the short supply in the domestic market, another market source said.
Additional reporting by Lin Liu
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections