From PetroChem Wire . . . .
PetroChem Wire's Daily Wire provides closing prices and a summary of the day's trading activity for US ethylene, proylene, polymers and upstream NGLs markets. Begun in 2007, its olefins and polyolefins prices serve as benchmarks for a number of physical and swap contracts that trade on the CME/NYMEX Clearport system.
For more information, click here.
For all of our products and services,
With US government shutdown, PET anti-dumping case unclear
HOUSTON, January 23, 2019 (PCW) -- The status of an anti-dumping case on US PET resin imports that accounted for about 40% of these imports in 2017 remained unclear as the US government agencies investigating it are closed.
Due to the current lapse in appropriations, the USITC has ceased regular operations, the US International Trade Commission web site states. The other agency, the International Trade Administration, is part of the Commerce Department. "Due to the lapse in Congressional Appropriations for Fiscal Year 2019, the U.S. Department of Commerce is closed," states Commerce's web site.
The ITA ruled in spring 2018 that these imports had been sold in the US at "less-than-fair value," and imposed preliminary anti-dumping duties. The duties are in the form of cash deposits that must be posted with US Customs and Border Protection Control before allowed for entry. The countries are Brazil, Indonesia, South Korea, Pakistan and Taiwan.
Customs' web site states, "Due to the lapse in federal funding, this website will not be actively managed. This website was last updated on December 21, 2018 and will not be updated until after funding is enacted."
In Oct 2018, the ITC ruled that the US PET industry had not been "materially injured or threatened with material injury" by the imports, thus negating the preliminary duties. This ruling in turn was appealed; the status of the appeal was unclear. -- Xavier A Cronin