China's glass fiber exports to the EU will decline

January 10, 2023

China Fiberglass Announcement, the company recently received an anti-dumping preliminary ruling from the European Commission, initially ascertaining that there are dumping facts about China's relevant fiberglass products, and therefore related to major fiberglass companies such as the company's holding subsidiary Jushi Group Co., Ltd. The involved products levied 43.6% of the temporary anti-dumping duties, and the taxes were borne by the local importers.
In 2009, the sales volume of glass fiber products exported from China Glass to the European Union was approximately US$40.58 million, accounting for approximately 8.7% of the company’s annual operating income. The company expects that the products exported to the EU market will decline slightly in the near future. However, the self-sufficiency rate of glass fiber in the EU market is seriously insufficient. It still needs to purchase from other countries, especially importing and purchasing from Chinese manufacturers. The company will also absorb the impact of the short-term decline in the EU market demand through other market increments.
The announcement also stated that the anti-dumping duty rate of the European Commission was the preliminary result. According to the EU's anti-dumping investigation procedure, the European Commission is expected to issue a final ruling within six months.

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