Methanol imports to attract anti-dumping duty

The Ministry of Commerce (MoC) in China has revealed that it is about to impose provisional anti-dumping duties on imports of methanol from three countries – New Zealand, Indonesia and Malaysia.

Following the first-round of inquiry, the MOC found that New Zealand, Indonesia and Malaysia had released methanol in the market which caused material damage to Chinese producers.

The MoC has enforced provisional anti-dumping levies varying between 9.3 percent and 37.5 percent which is expected to come into effect from 28th October, 2010.

The MoC also took up an inquiry on the imports of methanol from Saudi Arabia, but no proof of dumping was found against it.

Methanol or methyl alcohol is a raw material required for the production of specialty chemicals necessary for the manufacturing of textile dyes and other related chemicals.

source:Fibre2fashion News Desk-India