China to announce final acetone ADDs in June

04 June 2008 09:25  [Source: ICIS news]

BUDAPEST (ICIS news)--China is expected to announce final anti-dumping duties (ADD) on acetone imports from Japan, Singapore, South Korea and Taiwan on 9 June, market sources said on the sidelines of an industry conference on Tuesday.

The final verdict was initially expected on 9 March but was delayed by three months due to the complexity of the probe.

 The Commerce Ministry, which kicked off the investigation targeting Asian acetone imports in March 2007, typically takes up to one year from the start of any ADD probe to announce the final duties.

In late November the authorities had announced preliminary duties ranging from 5% to 54.1% on the import of acetone cargoes from producers in Japan, Singapore, Korea and Taiwan.

The bulk of the duties were in the range of 5% to 11.9%, with South Korean producer LG Chem enjoying the lowest anti-dumping duties for its product. The stiffest duty at 11.9% was levied on cargoes from Mitsui Chemicals, Asia's largest phenol-acetone producer.

Market sources expected that the ADDs for Mitsui Chemicals and Kumho could come down, industry players said on the sidelines of the 5th ICIS World Phenol/Acetone Conference here.

"There won't be any major impact on the market in the near term," said an official from Mitsui Chemicals, adding that the bulk of its sales volumes have been contracted for regular customers.

By: Liu Xin
+65 6780 4359

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