China gives final say on terephthalic acid products from S. Korea and Thailand

The final result on the anti-dumping investigation China launched on pure terephthalic acid products imported from South Korea and Thailand has been published by the Ministry of Commerce (MOC) Thursday.

According to the MOC, both countries were exporting products to China in large amounts, which actually formed dumping actions to China and directly caused material injures to Chinesebusinessmen of the field.

In the coming five years, duties ranging from 2.0 to 20.1 percent will be levied by the Customs Tariff Commission of the State Council on terephthalic acid products coming from both countries, said the ministry Today.

South Korean companies who will be directly affected by the new implementation include: Hyosung Corporation, Samsung Petrochemical Company Limited, SK Petrochemical Co, Ltd, Samnam Petrochemical Co., Ltd, KP Chemical Corporation, Taekwang Industrial Co., Ltd., among others.

While counterparts from Thailand include: Plus Indorama Petrochem Ltd, Siam Mitsui PTA Co., Ltd, TPT Petrochemicals Public Co., Ltd., among others.

The MOC initiated the investigation on February 12, 2009 and released a preliminary ruling on February 2, 2010.

Terephthalic acid is an organic compound with formula C6H4(COOH)2. This colourless commodity chemical is used principally as a precursor to the polyester PET- used to make clothing and plastic bottles. Several billion kilograms are produced annually.

Source: Global Times