Calgon Carbon Corporation (NYSE:CCC) declared that the U.S. Department of Commerce (“DOC’) has decided on the amount of antidumping tariffs to be assessed on imports of steam activated carbon from China that entered the U.S. within the timeframe of Apr 1, 2014 to Mar 31, 2015.
The company said that the new import tariff rate to be applied to the 17 additional entities that requested a separate tariff rate is 61.7 cents per lb. This rate is calculated for the two exporters analyzed by the DOC – Jacobi Carbons AB of 79.8 cents per lb. and Datong Juqiang Activated Carbon Co., Ltd. of 0.9 cent per lb.
These new import tariff rates represent increases from the rates earlier in effect -- Jacobi Carbons AB of 47.6 cents per lb., Datong Juqiang Activated Carbon Co., Ltd. of 0.00 cents per lb., and the separate tariff rate of 47.6 cents per lb. The import tariff rate to be applied to entities that have not earlier obtained a company-specific rate continues to be $1.10 per lb.
The DOC’s revision has two effects. First, the new tariff rate will become the cash deposit rate applied to future imports. The second one is that if a company has deposited less than its new tariff rate on Chinese activated carbon imported during the review period, it will be required to pay additional duties and in case, it is deposited more than the new rate, it will receive a refund.
The new tariff rates may be changed to rectify any errors made by the DOC. Calgon Carbon remains subject to the separate tariff rate with respect to steam activated carbon products it imports into the U.S. from China. Calgon Carbon believes that the review by DOC encourages fair competition as well as the pricing for imported Chinese activated carbon products sold in the U.S.
Calgon Carbon currently has a Zacks Rank #4 (Sell).
Some better-ranked companies in the pollution control space are H2O Innovation Inc. HEOFF and Heritage-Crystal Clean, Inc. (NASDAQ:HCCI) – both sporting a Zacks Rank #1 (Strong Buy) and Landauer Inc. (NYSE:LDR) , holding a Zacks Rank #2 (Buy).
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CALGON CARBON (CCC): Free Stock Analysis Report
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