Anti-Dumping Levies Boost Chemicals

Chemicals Review

The chemicals industry and market witnessed an anti-dumping wave last month, which resulted in bullish sentiments for citirc acid, methylene chloride and phenol.

Citric Acid was quoted at Rs 3000/3100 per tonne this week, higher than the pre-anti-dumping duty level of Rs 2800/2900 levels. The finance ministry imposed provisional anti-dumping duty of $456.67 per tonne on all exporters/producers of citric acid and on all imports of citric acid from Thailand and Indonesia on August 27.

Citric acid is a basic chemical used as preservative in food, soft drinks, confectionery, drugs and textile dyeing and printing industry. It also has industrial applications, being used in boiler cleaning.

Similarly, the finance ministry imposed provisional anti-dumping duty on all imports of phenol from Singapore, South Africa and the European Union (EU). Also known as carbolic acid, it is a basic organic chemical used in manufacture of phenol formaldehyde resins, laminates, plywood, particle boards, bisphenol A, alkyl phenols and pharmaceuticals.

The revenue department imposed a provisional anti-dumping duty of $95.77 per tonne on phenol imports from Mitsui & Co Ltd, Singapore. On phenol exported by Mitsui Phenol Singapore Pte Ltd, a provisional anti-dumping duty of $101.62 per tonne has been imposed.

On all other exporters from Singapore, a provisional anti-dumping duty of $161.38 per tonne has been imposed. A provisional anti-dumping duty of $109.49 per tonne has been imposed on all exporters from the EU.

Total imports of phenol into the country during the period of investigation from April 1, 2001, to December 31, 2001, stood at 46,418 tonnes. Imports from these three countries