Platts PTA assessment normalization

Following the preliminary anti-dumping duty imposed by the Chinese government on South Korean and Thailand purified terephthalic acid, Platts will continue to assess PTA CFR China assessment reflecting prices of cargoes that are China-qualified without anti-dumping duties.

In the event of receiving South Korean-origin or Thailand-origin bids submitted for the PTA price assessment process, Platts will apply a normalization process and add a premium to the received bids. The premium can be less than, or equivalent to, the amount of the preliminary anti-dumping duties. Sellers offering South Korean or Thailand PTA cargoes, or any cargoes subject to specific anti-dumping duties, in the Platts Market-On-Close assessment process must state the cargo origin at the time of making a submission for publication.

Chinese importers are currently required by the Chinese government to make deposits with customs when importing South Korean or Thailand origin PTA cargoes, based on the following formula: (customs duty x 1 + preliminary duty) x (1 + value added tax).

Below are the details of preliminary anti-dumping duties imposed by China:

SOUTH KOREA Samsung Petrochemical 3.4% Samnam Petrochemical 4.2% Taekwang Industrial 2.4% KP Chemical 2.9% SK Petrochemical 3.5% Hyosung Corp. 2.7% Others 11.2%

THAILAND Siam Mitsui PTA Co. 12.2% Indorama Petrochem 18.9% TPT Petrochemicals Public Co. 18.5% Others 20.1%

For questions or comments, please contact Quintella Koh at quintella_koh@platts.com or Chua Sok Peng at sok_peng_chua@platts.com.