15 November 2013 12:07 [Source: ICIS news]
DUBAI (ICIS)--India has dropped an anti-dumping investigation into acetone imports from a Saudi Arabian petrochemical firm, accepting a request from the exporting country, the Saudi trade ministry said late on Thursday.
India’s trade ministry launched the probe in July 2013 as local companies led by state-owned producer Hindustan Organic Chemicals Ltd complained that imports of cheap acetone -also known as dimethyl ketone imports - had hurt domestic firms.
"We have successfully ended the dumping issue in collaboration with Chemanol (Saudi Arabian Methanol Chemicals Co) and Indian trade authorities,” Saudi trade ministry said in a Twitter message.
“The case is terminated without imposition of fees on the Kingdom's exports to India,” the ministry said.
Chemanol’s acetone exports were under investigation, along with some Chinese companies based in Taipei, Taiwan. The period under investigation was from April 2012 to March 2013.
Acetone is used for paints, cleaning fluids and adhesives among others. It is an intermediate feedstock for acrylics and Bisphenol A (BPA).
Chemanol manufactures methanol derivatives, such as aqueous & urea formaldehydes, formaldehyde derivatives, super plasticizers and various amino resins.
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