China slaps anti-dumping duties on S. Korean, U.S. solar materials

22/01/2014 12:00 - 451 Views

BEIJING, Jan. 21 (Yonhap) -- China has imposed five-year, anti-dumping duties on imports of South Korean and U.S. solar-grade polysilicon, in what is widely viewed as the latest move to protest its domestic solar industry.

The punitive tariffs on imports of South Korean solar materials, announced by China's commerce ministry late Monday, were set between 2.4 percent and 48.7 percent.

The ministry also imposed anti-subsidy duties of up to 2.1 percent and anti-dumping duties ranging from 53.3 percent to 57 percent on imports of U.S. solar-grade polysilicon.

Citing the results of its anti-dumping probe last year, the ministry said in a statement that China's solar-grade polysilicon industry has "suffered substantial damages" from South Korean and U.S. producers, which were accused of allegedly selling their products at below-market prices in China.

Among the South Korean companies affected by the Chinese tariffs are Woongjin Polysilicon Co., OCI Co., Hankook Silicon Co., KCC Corp and Innovation Silicon Co., according to the statement.

The five-year duties came into force from Monday, it said.

Polysilicon is a key component in solar panels, and the majority of the world's supply is used for producing solar panels.

Source: http://www.globalpost.com/