Starting April 15, India extends its anti-dumping duty for acetone effective for another six months to October 14. The decision was taken to protect the domestic industry from further competition in the midst of the coronavirus outbreak.
Originally, the anti-dumping duty would expire on April 15.
The Finance Ministry said that the anti-dumping duty is imposed on acetone imports from countries including Taiwan, Saudi Arabia, and South Korea. The penal duties vary from USD86.1/tonne to USD271.37/tonne, depending on the country origin and the nature of individual operations.
India’s acetone market is around 200,000 tonne and the country only has two major acetone suppliers who meet around 30% of the domestic requirement.
Acetone has been dumped to India at throwaway prices as China has become self-sufficient.
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Published on April 23, 2020 5:56 PM (GMT+8)Last Updated on April 23, 2020 5:56 PM (GMT+8)
