05 February 2013 11:51 [Source: ICIS news]
LONDON (ICIS)--Brazil has launched an anti-dumping duty (ADD) investigation against six countries it suspects may have been dumping liquid epoxy resins (LER) in Brazil, an epoxy resins producer said on Tuesday.
The proposed ADDs are 31.9% for LER from South Korea, 2.1% for Saudi Arabia, 6.6% for Mexico, 38.6% for China, 13.3% for India and 40.3% for Taiwan.
The period under investigation by the Brazilian Secretariat of Foreign Trade for the analysis of dumping runs from April 2011 to March 2012 and from April 2007 to March 2012 for the analysis of injury.
The investigation was requested by Dow Sudeste Industrial Ltda, a subsidiary of US-based chemical Dow Chemical, which represents the domestic Brazilian LER industry.
As a result of the investigation, the producer talking to ICIS has decided to export less to Brazil and, consequently, it has had to cut operating rates to 70% of nameplate capacity.
"We've decided to tread carefully, and this is the main reason why we have cut operating rates," the LER manufacturer said.
"If we cannot sell what we produce it is like burning cash, so best not to produce," the producer, which preferred to remain anonymous, said.
The products under investigation are commonly classified under the harmonised international product codes 3907.30.11, 3907.30.19, 3907.30.21, 3907.30.22 and 3907.30.29.
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