PTA Anti-Dumping Investigation Final &Nbsp; S Benefit Limited

　　 Ministry of Commerce Yesterday, the final outcome of anti-dumping investigations against imported terephthalic acid (PTA) originating in Korea and Thailand was announced. Compared with the initial ruling, the range of varieties that were finally confirmed to be anti dumping decreased, and the anti-dumping duty rate was relatively low. Chemical fiber experts believe that the ruling has little impact on the domestic PTA industry. At present, the listed companies in the A share market involving PTA business are mainly S Yat Hua and Zhejiang Hengyi group, which are backing *ST brilliance.

The final conclusion of the Ministry of Commerce shows that dumping of imported terpl from South Korea and Thailand has caused substantial damage to China's PTA industry. The Customs Tariff Commission of the State Council has decided to levy anti-dumping duties on imported terpic acid originating in Korea and Thailand since August 12, 2010. The tax rate ranges from 2% to 20.1%.

Experts from the chemical fiber industry said that compared with the preliminary results in February this year, there are two tariff codes for PTA import tariff. Other terephthalic acid products (EPTA) were excluded from anti-dumping investigations, so they did not levy anti-dumping duties. There is no big change in the final result of the anti-dumping duty rate against the Korean enterprises and the initial ruling. The rate of anti-dumping duty on the mainstream PTA enterprises is about 2% to 4%. The rate of anti-dumping duty on Thailand enterprises is more than 10%. For this result, the relevant person said, "the positive impact on the domestic industry is a little, but not big."

However, some people believe that PTA industry profit Originally, not much, and the Levy of 2% to 4% tax would have a negative effect on imports.

At the end of 2008, the price of PTA mainstream futures fell to a minimum of 4000 yuan / ton, and in February 2010, the price reached a high level of nearly 9000 yuan / ton, and recently it was adjusted to 7000 yuan.

PTA upstream is crude oil, and downstream is mainly Textile raw materials Polyester. Because of the huge demand, China's PTA dependence is around 50%. In the first half of this year, PTA imported 3 million 310 thousand tons, of which the largest volume from South Korea.

In recent years, more PTA projects have been launched in China, and the capacity of these projects will be gradually released within two or three years starting from this year. China's PTA will gradually achieve self-sufficiency.

Among the listed companies, S is the largest PTA producer. In 2009, PTA accounted for 60% of the main revenue and half of its operating profit.