Sipchem says China won't impose methanol duty
Riyadh, October 30, 2010
Saudi International Petrochemical Company (Sipchem) said on Saturday China had decided not to impose any anti-dumping duties on methanol exports from the kingdom.
In June 2009, China said it had begun an anti-dumping investigation into methanol imported from Saudi Arabia and three other countries to assess whether the material had been sold below production prices.
China said then its investigation would determine whether the material - used in blended gasoline - has been dumped onto the Chinese market at prices below production costs, and ascertain the losses incurred by Chinese producers as a result.
'The Chinese ministry of trade decided to end investigations (to assess) imposing antidumping duty on methanol exported to china by Saudi firms including our subsidiary International Methanol Company (IMC),' Sipchem said in statement on the bourse website on Saturday.-Reuters