(Yicai Global) Dec. 5 -- The Chinese aluminum products producer Henan Mingtai Aluminum Industrial Co.’s [SHA:601677] main products exported to the US are not among the items under the US anti-dumping investigation and the company’s operation remains unaffected, the firm said today.
Last week, the US Department of Commerce initiated anti-dumping duty and countervailing duty investigations on imports of common alloy aluminum sheet from China. It is the first investigation of its kind initiated by the US Administration since 1995.
The US Department of Commerce initiated such investigations by claiming that such products are sold at less than fair value and received unfair subsidies, which is inconsistent with facts, Henan Mingtai Aluminum Industrial said on the Shanghai Stock Exchange’s investor interaction platform. The company will partner with other Chinese companies and the US customers to respond to the investigations by proactively providing data, it said. The final ruling is expected to be announced in August 2018.
Henan Mingtai Aluminum Industrial is a major aluminum product producer in China. It can apply for exclusion from the investigations, it said. The company has adequate orders and has maintained over 15 percent growth in production and sales volume in recent years. Exports account for only 25 percent of its production and sales volume and its products are exported to more than 50 countries and regions and it does not rely on the US market. It expects to maintain growth in production and sales next year, it projects.