Mexichem says may appeal USITC decision on China refrigerant
MEXICO CITY Nov 12 (Reuters) - Mexican chemicals and plastic pipe maker Mexichem on Wednesday said it may appeal a decision by the U.S. International Trade Commission (USITC ) that ruled out imposing duties or tariffs on refrigerant gases from China.
The USITC earlier on Wednesday determined that imports of a refrigerant from China had not harmed U.S. industry.
Mexichem said in a statement that it was considering appealing USITC's decision which went against a determination by the U.S. Department of Commerce that the Chinese imports were subsidized and sold in the United States at less than fair value.
Mexichem said in the statement that its refrigerant gases business represented 3 percent of its sales.
Analysts from Credit Suisse said in a report that Mexichem shares would likely fall on the news since the company management had been optimistic about the possibility of duties being slapped on Chinese imports.
(Reporting by Michael O'Boyle; Editing by Anupama Dwivedi)
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