(Yicai Global) Nov. 6 -- China will impose higher anti-dumping tariffs on acrylic fiber originating in South Korea starting from tomorrow.
China's commerce ministry will levy tariffs of 8.6 percent on products from Taekwang Industrial and 21.7 percent on those of other Korean companies following a midterm dumping review, it said in a statement.
Authorities first brought in five years of tariffs on imported acrylic fibers from Japan, Korea and Turkey in July 2016. The anti-dumping tax rate applicable to Korean acrylic fiber firms previously ranged from 4.1 percent to 16.1 percent.
Leading Chinese players Qifeng Chemical Fiber, Jimont Acrylic Fiber, Hangzhouwan Acrylic and Zhongxin Acrylic petitioned the government in August last year for a midterm review of anti-dumping measures applicable to Korean acrylic fiber makers, claiming that dumping issues have got even worse since existing measures were implemented.
Editor: William Clegg