Friday, January 28, 2011

Li Heng Chemical

Li Heng Chemical: Warns that it would be hit by China's move to impose anti-dumping duties on caprolactam imports from US and EU. Caprolactam is a major raw material used in the production of polyamide chips that Co needs for its nylon yarn products. Importers will be required to place anti-dumping deposits with the Chinese govt at rates ranging from 4.3-25.5% starting 25th Jan, which could see Co. employ higher cash flows to sustain operationss if such anti-dumping deposits remain….

Technically, see support for the stock at $0.20 (Recent mth lows), followed by $0.185 (yr low)

No comments:

Post a Comment