Great Wisdom Asdaq News Agency reported on August 1 that on July 25, 2014, the Indian Ministry of Finance and Taxation Bureau issued an announcement stating that it would impose levies on PTA (including MTA and QTA) imported from China, South Korea, Thailand, and the European Union. Anti-dumping duties range from US$19.05 to US$117.09/ton, which will take effect from the date of announcement. According to the industry, this move will create certain obstacles for Chinese PTA suppliers to export to India, but since the domestic PTA export volume is very small, the impact will be small.
According to analysis by China Chemical Fiber Information Network, China’s PTA exports have gradually increased since 2013, and the growth has accelerated since 2014. In June, China’s total export volume was 59,550 tons, a record high. Among them, 35,618 tons were exported to India, accounting for 59.81% of the total export volume. From January to June 2014, China exported a total of 118,900 tons of PTA to India, accounting for 51.42% of the total export volume.
Still, many analysts say exports account for a small proportion of total domestic production. An Guang, an analyst at Zhongyu Information, said that the impact on domestic PTA companies will be small. “The domestic PTA production capacity is 42.06 million tons. Calculated at a monthly operating rate of 65%, the output can reach 2.28 million tons, and only 35,000 tons are exported to India. The proportion of exports is very small.”
The companies involved in the PTA industry in the two cities mainly include: Hengyi Petrochemical (000703.SZ), Rongsheng Petrochemical (002493.SZ), Tongkun Petrochemical (601233.SH), etc.
