News from Notch Consulting, Inc.

December 29, 2014

ExxonMobil to shut French butyl rubber unit in 2015

Filed under: General, Rubber — Notch @ 6:10 am

Rubber News reports that ExxonMobil has confirmed that it plans to close its butyl rubber unit at Notre Dame de Gravenchon, France by the third quarter of 2015. The unit produces regular butyl rubber; the closure will have no effect on the company’s halobutyl operations, where ExxonMobil is the largest producer in the world.

In May 2014, ExxonMobil announced the construction of new units to produce halobutyl rubber and Escorez hydrogenated hydrocarbon resins at its petrochemical complex in Singapore. The rubber unit will have 140,000 tonnes of capacity, while the resins unit will have 90,000 tonnes, primarily for hot melt adhesives. Completion is scheduled for 2017.

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US reduces import duties on Chinese tires

Filed under: Uncategorized — Notch @ 6:00 am

Tire Business reports that the US Department of Commerce has reduced the pending countervailing duty rate on passenger and light truck tires imported from China from 15.69% to 12.03%, or nearly 3.7 percentage points. Commerce attributed the reduction to “significant ministerial errors” in the way it calculated certain sales denominators.

This rate will apply to all but a few excepted manufacturers. Among excepted suppliers, the rate applied to Giti Tire (Fujian) Co. Ltd. and “certain cross-owned” companies will be lowered to 11.74% from 17.69%, a reduction of 5.95 percentage points. The revisions will not apply to Cooper Kunshan Tire Co. Ltd. or Shandong Yongsheng Rubber Group Co. Ltd., which were levied duty rates of 12.5% and 81.29%, respectively.
In addition to the countervailing duties, all imported tires are subject to the prevailing 4% import tariff.

December 25, 2014

Merry Christmas 2014

Filed under: Uncategorized — Notch @ 9:14 pm

merry-christmas-greetings1

December 1, 2014

US Dept of Commerce sets countervailing duties for Chinese tires

Filed under: Tires — Notch @ 6:30 am

Last week the US Department of Commerce announced its preliminary countervailing duty subsidies for Chinese consumer tires. The preliminary duty is 15.69 percent, with final determination scheduled for April 6, 2015. The Department of Commerce is also studying anti-dumping duties, with final determination by January 21, 2015.

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