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Mexichem considers appeal against China refrigerant ruling

Refrigerant manufacturer Mexichem is considering appealing against a ruling by the U.S. International Trade Commission that there should be no duties or tariffs on refrigerant gases from China.

Mexican chemicals and plastic pipe maker Mexichem on Wednesday said it may appeal a decision by the U.S. International Trade Commission (USITC ) that ruled out imposing duties or tariffs on refrigerant gases from China.

In a statement it said it was considering appealing USITC’s decision which went against a determination by the U.S. Department of Commerce that the Chinese imports were subsidised and sold in the United States at less than fair value.

U.S. International Trade Commission (U.S. ITC) had ruled that imports of refrigerant gases from China do not harm U.S. industry.

The ruling ran counter to the U.S. Department of Commerce’s October 15, 2014 proposed final resolution regarding antidumping duties and countervailing duties on Chinese refrigerant gases imported into the United States.

This proposed resolution stated that imports from China of refrigerant gas R-134a, also known as HFC-134-a or 1,1,1,2-Tetrafluoroethane, should be subject to antidumping duties of 280.67 per cent

Analysts from Credit Suisse said in a report that Mexichem shares would likely fall on the news since the company management had been optimistic about the possibility of duties being slapped on Chinese imports.

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