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.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections