ROK to scrap anti-dumping duties on Chinese pigments
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Xinhua, July 21, 2011
South Korea plans to scrap anti- dumping duties against Chinese pigments as there is little change of damage to the local industry, a government report showed Thursday.
The Korea Trade Commission (KTC) decided Wednesday to end the punitive duties against Chinese anatase titanium dioxide as the pigment prices have risen enough to pose little threat to the local firms, the Ministry of Knowledge Economy said in a statement.
The anatase titanium dioxide is an ingredient used to produce paint, paper, plastic goods and rubber. South Korea had slapped anti-dumping tariffs of 4.82-23.08 percent on the Chinese product since 2005, and has reset the rates to 4.86-23.08 percent in 2008.
"The commission decide to scrap the duty as there is little possibility for local companies to be damaged by the Chinese product imports. The local industry is in a stage of recovery due to the six-year anti-dumping measures," an official at the ministry told Xinhua.
The decision will be notified to the Finance Ministry, which will make a final decision within 50 days after receiving the official notice to scrap the punitive duties, according to the statement.
