Portucel CEO confident US anti-dumping duty to fall below 15 pct
LISBON, Sept 22 (Reuters) - Portugal's pulp and paper maker Portucel expects the U.S. Department of Commerce to more than halve the anti-dumping duty on its uncoated paper products from the current 29.5 percent, CEO Diogo da Silveira told Reuters on Tuesday.
"We believe we will get a rate clearly below 15 percent," he said on the fringes of a conference in Lisbon. "A good result would be zero, but that we won't achieve, unfortunately."
In August, the United States announced the preliminary duty, in force until a final rate is set in January or February, following an investigation of uncoated paper imports from China, Brazil, Indonesia, Australia and Portugal. Portucel's was the lowest duty announced in August.
The U.S. market accounts for about 10 percent of Portucel sales.
Portucel shares were 2.3 percent lower in early afternoon trading on Tuesday, in line with the broader market in Lisbon.
(Reporting By Daniel Alvarenga, writing by Andrei Khalip)
© Thomson Reuters 2017 All rights reserved.