Latest News:  
Beijing   Overcast/Shower    29 / 21 ℃  City Forecast

English>>China Business

EU imports face dumping probe

By Chen Dujuan (Global Times)

09:51, August 20, 2012

The Ministry of Commerce (MOC) has accepted a petition made by China's four major polysilicon firms for anti-dumping and countervailing probes against EU producers, the Xinhua News Agency reported over the weekend.

The four firms, Jiangsu Zhongneng Polysilicon Technology Development Company, Jiangxi-based LDK Solar, Henan-based China Silicon Corp and Chongqing-based Daqo New Energy Corp, which together account for 80 percent of China's polysilicon products, a major raw material used to produce solar panels, filed the petition with the MOC.

The ministry announced on July 20 that it would launch anti-dumping and countervailing investigations into polysilicon imports from the US and anti-dumping investigation into polysilicon products imported from South Korea, following a petition filed by the same four firms.

China imported 9,286 tons of polysilicon products from the EU in the first half of this year, a year-on-year increase of 30.8 percent, but the average price dropped 47.46 percent to $27.53 per kilogram, according to the China Nonferrous Metals Industry Association.

"The price is noticeably lower than normal which causes serious harm to China's polysilicon sector," Zhao Jiasheng, head of the China Nonferrous Metals Industry Association, was quoted by Xinhua as saying.

The polysilicon sector in China faces the problem of overcapacity, but the cheap imports have squeezed the market share of domestic firms, Song Liang, an energy analyst at the Distribution Productivity Promotion Center of China Commerce, told the Global Times Sunday.

Chinese firms produced 38,000 tons of polysilicon while imported 40,000 tons in the first half of 2012, with the market share of imports rising to 51.3 percent from 43.8 percent in 2011.

Meanwhile, some EU members have cut subsidies for their solar power industries, which have weakened the global solar market and further put pressure on China's polysilicon firms, Song said.

Eighty percent of 43 Chinese polysilicon makers have suspended production, according to the association.

"Chinese firms need to update their technologies and cooperate with foreign counterparts to achieve win-win results," He Weiwen, co-director of the China-US-EU Study Center under the China Association of International Trade, told the Global Times Sunday.

The industry also needs support from the government, including funds and favorable policies, He said.

News we recommend:
Has the bear outstayed his welcome? Steel profits continue to suffer China has entered an era of low consumer prices
Firms should watch out for Internet threats China's property market to cool down: experts Why have people lost trust in data and indices?
A ruling in Europe gives cheer to China  Online retailers declare cut-throat price war Zones to boost DPRK trade

Email|Print|Comments(Editor:李倩、厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. F-15 fighters break sound barrier

  2. Japan stuck in neighbors' anger

  3. China's beauty industry profits from a makeover

  4. Love is all around

  5. Cute baby bear

  6. Sexy bikini special forces

Most Popular

Opinions

  1. Medicare row escalates with Romney's VP pick
  2. New UN envoy's appointment last ditch for Syria
  3. Stock markets remain a depressing drag
  4. ASEAN, China should maintain regional stability
  5. Be wary of West powers' attempt on Syria
  6. History proves Diaoyu Islands are China's territory
  7. Nation’s strength backs Diaoyu progress
  8. Who are tomorrow's consumers?
  9. Syrian neighbors different as crisis deepens
  10. Arms sales add fuel to regional security dilemma

What's happening in China

Usual suspects not on hot cities list

  1. Children join parents' petition for overdue wages
  2. Muslims celebrate end of Ramadan
  3. Three missing as leisure boat capsizes
  4. Mountain closed due to fire concerns
  5. Students for migrants during Qixi Festival

China Features

  1. Is China's low-cost era approaching its end?
  2. Chinese firms provided one-stop services in U.S.
  3. Don't store bread and biscuits together
  4. Eat ducks during Chushu (Stopping the heat)
  5. Special athletes at London 2012 Olympic Games

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai