Setback for China, good news for Gujarat Fluorochemicals! Centre to slap anti-dumping duty; Anil Singhvi explains
Here is yet another setback for China. In what will come as a good news for Gujarat Fluorochemicals Ltd, Zee Business Managing Editor Anil Singhvi on Tuesday informed that the government is planning to impose anti-dumping duty on Chinese fluoroelastomers, synthetic rubber that have wide chemical resistance and it is for five years.
Chetan Bhutani, Zee Business correspondent, quoting sources told Market Guru that Indian government has decided to impose anti-dumping duty on fluoroelastomers imported from China. He said notification on anti-dumping duty on fluoroelastomers has already been issued and an official notification from the Finance Ministry’s Department of Revenue will be out in 20-25 days. The duty will be imposed from $1.04/kg to $8.86/kg on the Chinese chemical, he said.
Bhutani said that the decision has been taken keeping in mind interest of the domestic companies.
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Gujarat Fluorochemicals Ltd, which solely manufactures fluoroelastomers domestically, had also raised objection to what China was doing. The decision will give much needed breather to the domestic company as the decision will last for five years, he added.
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