"QCO is imposed, there won't be any notice further as if there was an extension then we see notice otherwise not," a source in India said referring to the absence of any notice on the Department of Chemicals and Petrochemicals website.
In the run up to the deadline, market participants were expecting an extension to be granted given the large volumes of PTA sourced from China. The BIS norms for PTA set in from June 22 after the Indian government did not extend the deadline for import certification, traders said. Receive daily email alerts, subscriber notes & personalize your experience.
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