21 October 2013 14:05 [Source: ICIS news]
KARACHI (ICIS)--India's government has begun an investigation into the alleged dumping of acetone by Saudi Arabian and Chinese petrochemical companies following complaints by domestic players, trade officials in the Middle East said on Monday.
Indian trade ministry’s affiliate, the Directorate General of Anti-Dumping and Allied Duties, has begun investigating the matter.
Acetone is used for paints, cleaning fluids and adhesives among others. It is an intermediate feedstock for acrylics and Bisphenol A (BPA).
Traders in Dubai said that acting on complaints from the domestic player - Hindustan Organic Chemicals Ltd - Indian trade officials have initiated a probe into the dumping of acetone, also known as dimethyl ketone, by Saudi and Chinese firms.
The Chinese companies in question are based in Taipei, Taiwan, and the period under investigation is from April 2012 to March 2013.
“The investigation is in final stage and it is very much likely that the Indian government will impose anti-dumping duties on acetone imports from both the countries,” a Dubai-based trader said.
Countries initiate anti-dumping probes to check if their domestic industries have been hurt because of a surge in cheap imports.
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