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UPDATE 1-U.S. begins anti-dumping probe into PTFE resin from China, India

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Oct 19 (Reuters) - The U.S. Department of Commerce said on Thursday it had begun an investigation into whether imports of Polytetrafluoroethylene (PTFE) resin from India and China were being dumped on the U.S. market.

The department said it was also initiating a countervailing duty (CVD) investigation to determine whether producers of PTFE resin in India are receiving unfair subsidies.

These investigations were initiated based on petitions filed by the Chemours Company on Sept. 28.

According to the petition filed by Chemors, the estimated alleged dumping margins ranged from 23.4 percent to 408.9 percent for China, and 15.8 to 128.1 percent for India, the Commerce Department said in a statement.

It said unfair subsidies to India were substantial enough to investigate.

The Commerce Department estimated that in 2016, imports of PTFE resin from China was valued at $24.6 million and India at $14.3 million.

The department "will act swiftly, while assuring a full and fair assessment of the facts, to ensure that everyone trades on a level playing field", Commerce Secretary Wilbur Ross said in a statement.

On Tuesday, the Commerce Department said it had launched an investigation into whether imports of another resin, polyethylene terephthalate (PET), from Brazil, Indonesia, South Korea, Pakistan and Taiwan were being dumped in the U.S. market. (Reporting by Sangameswaran S in Bengaluru; Editing by Sandra Maler and David Gregorio)