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China applies anti-dumping on Japanese chemicals
China has imposed anti-dumping duties on Japanese imports of dichlorosilane, a chemical used in the manufacturing of silicon wafers and electronic components, in order to protect the local industry. Starting today, importing companies are required to provide cash deposits of up to 99.2%, following a government investigation that began in January and found significant harm to the domestic market. The decision caused shares of Tangshan Sunfar to rise by 10% on the Shanghai Stock Exchange, while shares of the Japanese company Shin-Etsu Chemical declined by 1.5%, as the chemical constitutes a small part of its business. Additionally, Japan’s share of China's imports of the chemical decreased, with South Korea now accounting for more than half of the imports. In July, Japanese imports were valued at $2.6 million, representing about a third of total imports.
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