USITC rules against antidumping duties for PET imports from five countries (via www.spglobal.com)

Houston — The US International Trade Commission has ruled against the US polyethylene terephthalate industry in relation to its request to impose antidumping duties on PET from Brazil, Indonesia, South Korea, Pakistan and Taiwan, the organization said Thursday.

The US PET industry was not “materially injured or threatened with material injury” by imports from the five countries and that their PET sold in the US was not done so at less than fair value, the USITC said.

As a result of the commission’ decision, “no anti-dumping duty orders will be issued on imports of this product from Brazil, Indonesia, Korea, Pakistan, and Taiwan,” it said in a statement.

The USITC’s decision was expected to open the door for imports from the nations in question, which had previously been stifled with anti-dumping duties eating into margins. The US PET market has been relatively strong throughout the summer and into the fall, driven in part by tight feedstock supplies and higher pricing.

Source: www.spglobal.com