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American PET producers to benefit as US raps India, China
14 Aug '15
1 min read
Thailand-based Indorama Ventures Limited (IVL), a leading global manufacturer of Polyethylene Terephthalate (PET) has said that PET producers in Canada, USA and Mexico are expected to benefit after the US Department of Commerce announced its preliminary affirmative determinations in the countervailing duty (CVD) investigations of imports of certain PET resin from the China and India.
IVL which also has production facilities in the US claims it had produced 1.2 million tones of PET in North America in 2014 or one-third of the continent's market share.
The Departmentof Commerce announced a CVD in range of 4.27 per cent to 18.88 per cent on PET imports from China into USA and 5.5 per cent to 115.04 per cent on imports of PET from India into USA. Investigation was carried out on Oman also; however no CVD was imposed on Oman. This is applicable with immediate effect and runs for five years.
In addition to CVD, Anti Dumping Duties (ADD) investigations are also on against China, India, Oman and Canada. The probe result is expected to be announced in the fourth quarter of 2015. (SH)
IVL which also has production facilities in the US claims it had produced 1.2 million tones of PET in North America in 2014 or one-third of the continent's market share.
The Departmentof Commerce announced a CVD in range of 4.27 per cent to 18.88 per cent on PET imports from China into USA and 5.5 per cent to 115.04 per cent on imports of PET from India into USA. Investigation was carried out on Oman also; however no CVD was imposed on Oman. This is applicable with immediate effect and runs for five years.
In addition to CVD, Anti Dumping Duties (ADD) investigations are also on against China, India, Oman and Canada. The probe result is expected to be announced in the fourth quarter of 2015. (SH)
Fibre2Fashion News Desk – India
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