【NEWS UPDATE】?? Trade Tensions Rise: EU Imposes Anti-Dumping Duties on Chinese Titanium Dioxide ?? https://lnkd.in/g29mDSUx
Recently, EU member states officially approved final anti-dumping duties on titanium dioxide (TiO2) imported from China, sparking significant discussions in the global market. The European Commission has set tariffs of €0.25/kg for Anhui Jinxing Group and €0.74/kg for Longbai Group. For compliant companies, the rate is €0.64, while others face a higher rate of €0.74. These measures will take effect on January 11 and will last for five years.
This decision follows an eight-month investigation, with the EU reducing initial tax rates by about 7% after appeals from over 20 companies. However, the impact on the European coatings industry, particularly small businesses, is expected to be severe, as TiO2 constitutes a significant portion of raw material costs. ??
The repercussions extend beyond Europe, as China’s titanium dioxide industry faces similar investigations from Brazil, India, and Saudi Arabia, complicating export efforts. Despite a remarkable increase in export volume—reaching 1.6416 million tons in 2023—Chinese manufacturers are feeling the strain, with notable declines in profits reported across the board. ??
As the industry grapples with overcapacity and rising costs, many companies are implementing production cuts, anticipating operational rates to drop to around 60%. With fluctuating market prices and increasing acid costs, the future remains uncertain.
Stay informed and engaged as the landscape evolves!
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Global Consulting for the Automotive World
7 个月Shouldn't be a surprise to anyone by now that tariffs lead to higher costs, and in turn - inflation.