30.6% Anti-dumping Duty Imposed on Shanghai CIMIC Tile

22/09/2011 12:00 - 428 Views

SHENZHEN, September 20, SinoCast -- Shanghai CIMIC Tile Co., Ltd. (SZSE: 002162) announced on September 19 that it would accept 30.6% anti-dumping duty in accordance with the verdict by the European Union on China ceramic tile product anti-dumping investigation case. This will be executed for 5 years since the verdict took effect.
The European Union levies anti-dumping duty on 5 categories of Chinese ceramic tile products involved in this case, which are 26.3%, 29.3%, 36.5%, 30.6%, and 69.7% respectively. However, after the initial verdict in March 2010, the involved products were imposed with 32.3% temporary anti-dumping duty during the period from March 17 to the verdict was made, and duties were paid by local importers in the European Union.
According to information from Shanghai CIMIC Tile, antique brick and glazed pottery products suffered great influence from this anti-dumping verdict. Products exported to the European Union were polished tiles, which suffered weaker influence.

After the verdict, sales value of products exported to the European Union may decrease by about 40% in 2011. However, this may bring little negative influence to the overall performance of Shanghai CIMIC Tile.

Sep 20, 2011
Source: sinocast.com