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China imposes anti-dumping duties on spandex yarn
12
Oct '12
China will levy anti-dumping duties on spandex yarn imported from several countries from October 13, 2012, for a period of five years, the Wall Street Journal said quoting an announcement from the Ministry of Commerce.
 
Spandex yarn, also known as polyurethane or elastane, is mainly used in the manufacturing of knitwear, innerwear, swim suits, sportswear, socks and bandages for medical purposes.
 
According to the Ministry, spandex imported from Japan, Taiwan, Singapore, South Korea and the US would attract an anti-dumping duty varying between zero percent to 61 percent.
 
While most of the suppliers will face the highest rate of duty, one South Korean company, Hyosung Corp, will be exempted from special duty. Some other spandex suppliers will have to pay duties ranging from 2.31 percent to 12.87 percent.
 
China had initially imposed anti-dumping duties on imported spandex in 2006, which expired last year. The Ministry said there exists a possibility of dumping activities and hence, it has decided to re-impose the duties.
 

Fibre2fashion News Desk - China

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