Singapore’s Li Heng says hit by China anti-dumping duties

18/06/2015 10:25 - 549 Views

Singapore-listed Chinese textile firm Li Heng Chemical Fibre Technologies (LHCF.SI) said on Thursday it will be hit by China’s move to impose anti-dumping duties on caprolactam imports from the United States and European Union.
Caprolactam is a major raw material used in the production of polyamide chips that Li Heng needs for its nylon yarn products.

Importers of the product will be required to place anti-dumping deposits with the Chinese government at rates ranging from 4.3% to 25.5% with effect from Jan 25, Li Heng said in a disclosure to the Singapore Exchange.

“We therefore have to employ higher cash flows to sustain our operations if such anti-dumping deposits remain,” it said. “We are also exposed to higher raw material costs if the (government’s) final rulings on the pending investigation impose the levy of antidumping tariffs.”

Thursday, 27 January 2011 13:08
By Thomson Reuters
Source: theedgesingapore.com