04-05 Mar, 2015 - Sharm el-Sheikh, EGYPT
Sheraton Sharm Hotel, Resort, Villas & Spa
Sheraton Sharm Hotel, Resort, Villas & Spa
India's Department of Revenue under the Ministry of Finance has imposed an anti-dumping duty of $62.82 a tonne on the import of PTA from China and $23.75 from the European Union. Purified terephthalic acid (PTA) is a raw material used in polyester production.
On the other hand, imports from South Korea, depending on who is the exporter, will be levied a duty ranging from $19.05 a metre to $117.49 a metre. Meanwhile, imports from Thailand will face duties of $27.49 a metre to $99.51.
Although the move has been welcomed by PTA producers, PTA users like polyester companies say that it will increase manufacturing costs, and will hurt the industry. The petition for imposing anti-dumping duty was filed by Reliance Industries and Mitsubishi Chemical Corporation while PTA Users Association is of the opinion that the move is likely to create a non-level playing field for polyester producers in the country vis-a-vis imports.
More on PTA market trends will be discussed at 16th MENAPET (MidEast & North Africa PET Resin & Polyester Trade, Recycling & Technologies) on 4-5 March, 2015 in Sharm el-Sheikh.
Contact Ms. Hafizah at hafizah@cmtsp.com.sg or call +65 6346 9218 for more details.
