Category

Countries


Polyethylene Terephthalate (PET) Resin Imports from China May Face Anti-Dumping Duty

Polyethylene Terephthalate (PET) Resin Imports from China May Face Anti-Dumping Duty

  • 07-Aug-2020 6:57 PM
  • Journalist: Timothy Greene

Domestic manufacturers of Polyethylene Terephthalate (PET) Resin have filed an application for imposition of Anti-Dumping Duty on cheaper imports from China. PET Resin being a widely used engineered thermoplastic across automotive, packaging, textile industries etc., has seen a surge in imports in the last quarter. Imports have steadily increased for the third consecutive month for the Q1 FY 2020, recovering from the sudden crash following COVID-19 outbreak. However, dumping from China has been a persistent problem for domestic players since April 2018. Domestic manufacturers, mainly Reliance Industries Limited (RIL) and IVL Dhunseri Petrochem Industries Private Limited filed the application citing injury to the domestic industry from alleged dumping. Imports from Thailand, Indonesia, Malaysia and other Middle Eastern countries are insignificant as compared to imports from China as stated by the Directorate General of Trade Remedies (DGTR) and that a provisional duty imposition should be in place to minimise dumping and protect the interest of the domestic players. The provisional duty can be imposed only after 60 days of initiation of investigation and would be valid for 180 days from effect. Domestic PET Resin prices are superior in quality and are not readily available at times, making it difficult for traders and small manufacturers to afford high domestic prices of the product. PET Resin shipments being primarily received at Bangalore ICD, Madras port and JNPT port are imported with the HS Code 39076190 has highly stressed availability in the country following complete halt and subsequent gradual restart of production. However, the investigation will keep recycled PET out of the scope of consideration and only the import of virgin PET resins to be investigated, post which appropriate duties may be recommended to the Finance ministry for imposition.

24X7

Track Real Time Prices

Related News

Will the Rising Uncertainties in Europe Lead to High Dependency on the Asian PET Market?
  • 20-Sep-2022 6:00 PM
  • Journalist: Henry Locke
Europe Sees a Gloomy Start for the Polyethylene Terephthalate (PET) Market in Early September
  • 12-Sep-2022 6:27 PM
  • Journalist: Harold Finch
Feeble Demand Dragging the European Polyethylene Terephthalate (PET) Market
  • 30-Aug-2022 3:31 PM
  • Journalist: Harold Finch
The Polyethylene Terephthalate (PET) Market Remains Stagnant in the Asia-Pacific
  • 19-Aug-2022 5:08 PM
  • Journalist: Nicholas Seifield