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China: To Levy Antidumping Duty On Terephthalic Acid From South Korea
16/08/2010 12:00
BEIJING (Dow Jones)--China will impose an antidumping duty on terephthalic acid from South Korea and Thailand Thursday for five years, the Ministry of Commerce said.
Importers of the acid will have to pay duties to customs of between 2.0% and 20.1%, the ministry said on its website.
Companies such as Samsung Petrochemical Co. and SK Petrochemical Co. are among the targets of the duties, according to the statement.
The ministry in February said customs would start collecting deposits on imports of the acid, which will now be kept as duty payments unless the deposit exceeds the amount owed, it said.
Terephthalic acid is an organic compound used in polyester coatings and resins.
Importers of the acid will have to pay duties to customs of between 2.0% and 20.1%, the ministry said on its website.
Companies such as Samsung Petrochemical Co. and SK Petrochemical Co. are among the targets of the duties, according to the statement.
The ministry in February said customs would start collecting deposits on imports of the acid, which will now be kept as duty payments unless the deposit exceeds the amount owed, it said.
Terephthalic acid is an organic compound used in polyester coatings and resins.
AUGUST 11, 2010, 11:25 P.M. ET
Source: online.wsj.com
Source: online.wsj.com
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