A petrochemical corporation in Xiamen had won a historic victory recently when China's Ministry of Commerce (MOC) made a ruling in favor of China's terephthalic acid producers regarding dumping of terephthalic acid in Chinese markets at unfairly low prices, reports Xiamen Economic Daily.

"Now the terephthalic acid producers in China can have a breath." said Mr. Liu Dewei, General Manager of Xiamen Xiang Lu Petrochemical Co.,Ltd.

Involving an amount of 3.6 billion, this is one of the biggest anti-dumping cases in the history.

It is reported that China has decided to impose anti-dumping tariffs on pure terephthalic acid imported from Thailand and the Republic of Korea (ROK).

The five-year tariffs, ranging from 2 percent to 20.1 percent, took effect on Aug. 12, 2010, the MOC said in a notice posted on its website.
 
Terephthalic acid is an organic compound used in polyester coatings and resins. The MOC said the dumping of terephthalic acid on the China market had caused substantial damage to the domestic industry.
 
The ministry started an anti-dumping probe into imports of the acid on Feb. 12, 2009.

On Feb. 12, 2010, the MOC announced the preliminary ruling of the investigation, which required importers of pure terephthalic acid from Thailand and the ROK to put down a security deposit.