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Govt initiates anti-dumping investigation on PTA imports
Feb '09
In the spot market for Purified Terephthalic Acid (PTA), sellers managed to break through the 6,800 Yuan per ton barrier in early morning sessions, but buyers adopted a more subtle approach and prices nearly stayed firm at 6,700 Yuan per ton. The Paraxylene (PX) market has also begun to stabilize since the beginning of this week and spot prices of FOB South Korea was quoted at US $920 per ton

With an increasingly wait-and-watch attitude by the buyers, increase in import prices of PTA in spot markets remained slightly restrained. News of China initiating anti-dumping investigation on PTA imports did not help the markets. Isolated offers showed an intention towards US $810-820 per ton, however, mainstream-negotiating level stayed at $800-805 per ton.

China Ministry of Commerce decided to establish anti-dumping investigations on Purified Terephthalic Acid imports originally produced in South Korea and Thailand from February 12, 2009 onwards and this identified dumping investigation period ranges from October 1, 2007 to September 30, 2008.

Fibre2fashion News Desk - China

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