NewsFlashChina imposes ADD on Asia acetone

22 November 2007 02:37  [Source: ICIS news]

SINGAPORE (ICIS news)--China’s Ministry of Commerce said on Thursday it had imposed preliminary anti-dumping duties (ADD) ranging from 5% to 54.1% on acetone imports from Japan, Singapore, South Korea and Taiwan.

The lowest ADD at 5% was levied on cargoes from South Korea’s LG Chem, formerly known as LG Petrochemical. Buyers of acetone from Kumho P&B Chemicals faced ADD of 10.9% while other Korean companies had duties of 52.9%, the ministry said in a statement on its website.

The duties will kick in from Friday, 23 November.

Key sellers such as Japan’s Mitsui Chemicals as well as Taiwanese producers Formosa Chemicals & Fibre Corp and Taiwan Prosperity had ADD of 11.9%, 6.2% and 6.5% levied on their exports respectively ( please see table below).

The government had launched an ADD probe in March 2007 to assess the damage to the domestic acetone industry after receiving applications filed by domestic producers in January.

Company

ADD

LG Chem

5%

Kumho P& B Chemicals

10.9%

Other Korean companies

52.9%

Mitsui Chemicals

11.9%

Mitsubishi Chemical

10.7%

Other Japanese companies

52.4%

Formosa Chemicals & Fibre Corp

6.2%

Chang Chun Plastics

9.4%

Taiwan Prosperity Chemical

6.5%

Other Taiwanese companies

51.6%

Mitsui Phenols Singapore

7.8%

Other Singapore companies

54.1%


By: Peh Soo Hwee
+65 6780 4359



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