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China has adopted temporary anti-dumping measures on the importation of the chemical TDI from Japan, South Korea and the United States.
TDI (toluene diisocyanate) exporters from the three countries have dumped at margins ranging from 6 percent to 49 percent in China, which has damaged domestic industries, the Ministry of Commerce said yesterday in its preliminary judgment.
Importers are now required to turn in cash bonds comparable to exporters' dumping margins with customs in advance of imports.
The ministry said the anti-dumping investigation will continue with the final judgment on whether to impose anti-dumping tariffs being made in 12 months.
The case was launched by the commerce ministry's predecessor, the Ministry of Foreign Trade and Economic Co-operation (MOFTEC), on May 22 last year.
The Hebei Cangzhou Dahua TDI Co Ltd applied to MOFTEC for an anti-dumping inquiry on April 17 last year. The investigation period covered the 12 months of 2001.
Data from the commerce ministry shows China's use of TDI increased 7.14 percent year-on-year in 2001.
The market share of imported TDI from the three countries expanded 73.09 percent from 2000 to 2001 while prices of imported TDI from the countries dropped 20.71 percent.
Although domestic output and sales increased 54.02 percent and 35.57 percent year-on-year in 2001, respectively, domestic industries' revenues and before-tax profits have been on a downward spiral.
The ministry said Japan, South Korea and the United States have huge TDI production capacities and are likely to dump further on the Chinese mainland.
(China Daily June 11, 2003)
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