India sets definitive ADD on Korea acetone imports

11 June 2008 16:25  [Source: ICIS news]

NEW DELHI (ICIS news)--India has imposed a definitive anti-dumping duty (ADD) of $67.33/tonne on acetone of South Korean origin exported from any country, a government official said on Wednesday.

This levy would also be imposed on acetone manufactured elsewhere but exported from South Korea.

The official said that ADD would be levied with effect from 10 June. There was no provisional ADD in this case as the anti-dumping authority submitted only final findings on 9 May.

On 11 March, the Indian Revenue Department had levied a definitive ADD at different rates on acetone imports from Taiwan, Singapore, the US, EU and South Africa under a separate case.

The anti-dumping action would benefit India’s only two phenol-acetone producers Hindustan Organic Chemicals Limited (HOC) and SI Group-India Limited (SIGIL), a subsidiary of SI Group of the US.

Both companies, which already enjoy separate tariff protection on phenol under a few separate anti-dumping cases, use the cumene process to produce phenol and acetone.

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By: Naresh Minocha
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