10 June 2008 11:10 [Source: ICIS news]
SHANGHAI (ICIS news)--China has announced its final anti-dumping duties (ADD) ranging between 5-12.1% on acetone imports from Japan, Singapore, South Korea and Taiwan on 9 June, sources from Ministry of Commerce said on Tuesday.
The duties would be effective from 9 June for a period of five years, with South Korean producer LG Chem enjoying the lowest anti-dumping duty of 5% for its product. The stiffest duty at 12.1% was levied on cargoes from Mitsubishi Chemical Corp.
Domestic acetone industry players supported the duty, as they believed that it would bring acetone prices back to reasonable levels, said some producers and traders.
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.
The final verdict was initially expected on 9 March but was delayed by three months due to the complexity of the probe.
The anti-dumping investigation began after the Commerce Ministry received requests from Sinopec Shanghai Gaoqiao Petrochemical, Sinopec Beijing Yanshan Petrochemical and China Lanxing (Harbin) Petrochemical.
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