Taiwan to gain from China’s ruling against PTA makers in South Korea and Thailand

23-Feb-10

With effect from February 3, 2010, China`s Commerce Department has imposed punishing tariffs of 2.3-20% on the imported PTA from South Korea and Thailand. China’s ruling to have South Korean and Thai makers of PTA (purified terephthalic acid) hand in high-volume guarantee funds when selling the products to China is expected to benefit Taiwanese manufacturers - Formosa Chemical & Fibre Corporation (FCFC), China American Petrochemical Co., Tuntex Petrochemicals Inc. and Oriental Union Chemical Corp.