China Continues To Impose Anti-Dumping Duties On Imports Of PTA From HANKOOK.

In August 10th, the Ministry of Commerce issued a notice that the import of purified terephthalic acid (PTA) from South Korea and Thailand continued to be collected since August 11, 2016.

The implementation period is 5 years.

In August 12, 2010, the Ministry of Commerce decided to import imports originating in Korea and Thailand.

The final anti-dumping measures, the scope of anti-dumping duty collection is 2% to 20.1%, the implementation period is 5 years since August 12, 2010.

In August 10, 2015, the application of anti-dumping measures in the domestic PTA industry should be investigated at the end of the year.

The investigation period of this review is from April 1, 2014 to March 31, 2015, and the investigation period of industrial damage is from January 1, 2011 to March 31, 2015.

The Ministry of Commerce announced in August 10, 2016 that the investigation authorities ruled that if the anti-dumping measures were terminated, the dumping of imported terpic acid originating in Korea and Thailand may continue or happen again, and the damage to China's domestic industry may continue or re emerge.

The anti-dumping duty rate is as follows: Xiao Xing 2.6% of the company, 2% of Han Hua comprehensive chemical company and Lotte chemical company, 2.4% of Tai GUANG industry (strain), three of South Petrochemical Company, 3.7% of SK Petrochemical Company, 11.2% of other Korea Companies 11.2%, 16.9% of Indorama Petrochemical Company of Thailand company, 6% of Siam Mitsui PTA limited, 12.9% of TPT Tpt Petrochemicals Public Company Limited, and 20.1% of other Thailand companies.

Data show that from 2011 to 2014, the apparent consumption of purified terephthalic acid in China was 21 million 570 thousand tons, 24 million 856 thousand tons, 27 million 510 thousand tons and 28 million 68 thousand tons respectively, and increased by 30.1% in 2011 compared with 2011.

The apparent consumption of 1-3 tons in 2015 was 7 million 907 thousand tons, an increase of 19.6% over the same period last year.

Customs statistics, from 2011 to 2014 and 2015 1-3, were investigated in South Korea and Thailand.

The total number of exports to China is 2 million 496 thousand tons, 2 million 134 thousand tons, 1 million 444 thousand tons, 723 thousand tons and 117 thousand tons respectively, accounting for 46.4%, 50.9%, 67.7%, 73.7% and 68.1% respectively.

The average sales price in 1-3 months in 2015 was less than half of the average selling price in 2011.

Affected by this, the sales revenue of domestic industry failed to keep pace with the number of sales, and began to decline in 2014. Domestic industry has been in a state of continuous loss since 2012, and the rate of return on investment in the same period has been negative.