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Sinopec Industry Disclosed $3 Billion 600 Million Anti-Dumping Case Wins

2010/8/28 14:53:00 45

Liu Dewei, general manager of Xiamen Xiang Lu Formosa Petrochemical Co, 26, revealed in Xiamen on the day that Xiang Lu Fu won the largest international amount.

Anti dumping case

Pass by.

It is reported that the amount involved amounted to US $3 billion 600 million.

Liu Dewei said that China is the largest in the world.

PTA

(high purity terephthalic acid) consumer market, the current capacity of 15 million 500 thousand tons, accounting for about 34% of the world's total capacity.

Over the past two years, the dumping of PTA products in Korea and Thailand and other countries and regions has blocked the development of China's PTA industry, and the loss of the whole industry for the first time in 2007.

Xiang Lu lost 700 million yuan in 2008 and had to lay off for the first time in the company's history.

To this end, Xiang Lu jointly with Zhejiang Yisheng, Hualian three Xin and other industry giants launched a joint anti-dumping lawsuit against South Korea and Thailand in December 2008.

Finally, the Ministry of Commerce issued a final notice in August 11th this year, which found that PTA originating in Korea and Thailand had dumping and levying anti-dumping duties ranging from 2% to 20.1%, according to the 2007 China's PTA.

Exit

The amount involved is as high as 3 billion 600 million US dollars.

Speaking of the lawsuit experience, Liu Dewei said that the choice of the time points for the initiation of lawsuits is accurate.

He said that at that time it was the most difficult time for the other side to dump, and the most difficult period for Chinese enterprises. "If we push it back for 3 months, it will be a problem for the Ministry of Commerce to file a case."

In addition, the prosecution of Chinese enterprises to withstand pressure, overcome difficulties, and achieved a complete chain of evidence is also a major factor in success.

Liu Dewei said that after the anti-dumping case was won, it had a good effect on the development of domestic enterprises.

Due to the limited import of enterprises in South Korea and Thailand in recent two years, the operation of Xiang Lu petrochemical company has been greatly improved, and the two phase project was restarted last year.

According to his understanding, there were about 15000000 tons of capacity in the country which were originally unsalable or cancelled, and the projects were rebuilt or set up. In the later stage, there were about 10 million tons of capacity in the new plan.

In contrast, the capacity of Korean and Thailand export enterprises has been suppressed, and no new projects have been put into operation in the past two years.

According to the insiders, according to this trend, China's PTA capacity will increase from 4 to more than 6 of the total capacity of Asia, leaving the international peers behind in terms of pricing power and market coverage.