China extends anti-dumping duties on chemical from ROK, Thailand
The tariffs on pure terephthalic acid will become effective for another five years, with rates ranging from 2 percent to 20.1 percent, the Ministry of Commerce (MOC) said Wednesday in a notice posted on its website. The chemical is used to make clothing and plastic bottles.
Products from companies including ROK's Hyosung Corporation and Thailand's Indorama Petrochem Ltd. will continue to be subject to the tariffs.
The ruling was made after official surveys showed that damage to the domestic industry would reoccur if the tariffs were terminated, the notice said.
The ministry started imposing anti-dumping duties on the industrial organic compound in 2010. ■