EU To Levy 57.7% Anti-dumping Duty On Chinese Fiberglass

Jiangsu Jiuding New Material (002201) may face a 57.7-percent anti-dumping duty on the fiberglass mesh it exports to the EU, reports stcn.com, citing a company filing. The EU Commission issued a preliminary ruling on levy anti-dumping duty on fiberglass mesh imports from China at 48.4-62.9 percent recently. Jiuding Material would be one of 14 Chinese companies to be hit with the punitive measures. A final ruling of may be released in six months.

Jiuding sold 7.16 million yuan worth of fiberglass mesh to the EU in 2010, accounting for 1.33 percent of the company’s total revenue. It also sold 35.42 million yuan of fiberglass tape to the region last year, accounting for 6.58 percent of total revenue.