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Li Heng hit by Chinese caprolactam anti-dumping duty

01
Feb '11
Li Heng Chemical Fibre Technologies, a Chinese textile firm listed on Singapore Stock Exchange recently said that, China's move of subjecting anti-dumping duty on caprolactam imports from the US and EU, would lay an adverse impact on it.

Caprolactam is one of the main inputs that go into the manufacturing of polyamide chips, which Li Heng requires for production of its nylon yarn items.

Li Heng, in a disclosure to the Singapore Exchange recently revealed that, pursuant to the duty imposition from January 25 onwards, all the caprolactam importers will have to pay anti-dumping deposits with the Chinese government at rates varying between 4.3 and 25.5 percent of the import value.

If such anti-dumping deposit system is continued, the caprolactam importing firms would be required to maintain higher cash flows to assist their operations, the firm said. Also, if after completion of the investigation if the government decides to impose such anti-dumping duty, they will have to bear extra costs for raw materials, it added.

Fibre2fashion News Desk - India


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