China's Shenhuo Group starts aluminium foil project
China’s Henan Shenhuo Group announced on Thursday, December 8, that the company has started work on the aluminium foil project. The project worth 3.6 billion yuan ($544 million) will have an annual production capacity of 105,000 tonnes, according to news published by Reuters.
The aluminium foil project will target the medical packaging sector. Most of the products manufactured in the plant will be supplied to the European and U.S. markets.
In October this year, U.S. Secretary of Commerce Wilbur Ross announced that the Commerce Department issued affirmative preliminary antidumping duty determination on aluminium foil from China. It was found that exporters of aluminium foil sold their product at prices below cost.
The U.S. Commerce Department would impose duties in the range of 96.81 per cent to 162.24 per cent on Chinese aluminium foil. Commerce will announce its final anti-dumping determination on February 23, 2018.
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