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Antidumping duty reduced on Chinese high tenacity yarn
08
Jan '11
The European Union recently issued a notice of its formal final ruling of anti-dumping case against China's polyester high tenacity yarn. Two companies involved in Shaoxing City obtained lower anti-dumping tax rates. Of which, the anti-dumping tax rate of Shaoxing Haifu Chemical Fibre Ltd fell to 5.3 percent from preliminary 9.3 percent.

It is learnt that, the EU initiated anti-dumping investigations on polyester high tenacity yarn products in September 2009 and the involved amount reached was US $124 million, of which Shaoxing Haifu Chemical Fibre and Zhejiang Guxiandao Industrial Fibre made up for a major portion of these imports.

The anti-dumping duty rate of 5.3 percent has weakened competitive advantage of Chinese exports to the EU, but it is still within a bearable range," said Manager Yao of Shaoxing Haifu Chemical Fibre.

The company has not only maintained its important EU market through this deal, but more important is that, it has derived a lot of experience from it, so the enterprise will pay more attention to improving quality.

Shaoxing Haifu Chemical Fibre exported nearly 1 million tons to the EU from January to November in 2010. The company has 9 production lines (45,000 tons of capacity) at full load operation; in addition and plans to increase its production by 15,000 tons by introducing three advanced production lines in 2011.

Fibre2fashion News Desk

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