India Imposes ADD On NFY From EU, Vietnam

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Nylon filament yarn prices weakened by 1.3-1.7% in October, compared to the previous month.

India has imposed an anti-dumping duty of up to US$ 719 per tonne for five years on import of nylon filament yarn from the European Union (EU) and Vietnam following recommendations by the commerce ministry's investigation arm DGTR. "The anti-dumping duty will be effective for a period of five years (unless revoked, superseded or amended earlier) from the 6th day of October, 2018 and shall be paid in Indian currency," the department of revenue has said in a notification.

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The Directorate General of Trade Remedies (DGTR) in its probe has stated that nylon filament yarn (multi filament) has been exported to India from these two regions below normal values, and the domestic industry has suffered material injury on account of such dumped imports.

The anti-dumping duty imposed ranged between US$ 719.44 per tonne and US$ 128.06 per tonne. Import of this yarn from the EU and Vietnam has increased to 13,799 tonnes during October 2015 March 2017 (which was the period of investigation) from 7,201 tonnes in 2013-14. JCT, Gujarat Polyfilms, Gujarat State Fertilizers and Chemicals, Prafful Overseas and AYM Syntex had jointly filed for initiation of the investigations and imposition of the duty.

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