Caustic soda makers in demand

Shares of six caustic soda manufacturers rose by 2% to 9% after the media reported that the government has extended anti-dumping duty for three months on caustic soda imported from China and Korea.

Gujarat Alkalies & Chemicals (up 9.54%), Chemfab Alkalis (up 7.33%), DCW (up 5.02%), TGV Sraac (up 4.35%) Meghmani Organics (up 2.88%) and Punjab Alkalies & Chemicals (up 2.39%) advanced.

Meanwhile, the S&P BSE Sensex rose 222.60 points or 0.59% to 38,273.38.

As per media reports, India extended anti-dumping duty on imports of caustic soda from China and Korea till November 2020. The duty was extended after considering the recommendations of the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR), that had requested for extension of the existing anti-dumping duty on the chemical imported from China and Korea.

The duty was first imposed in 2012 on a different set of countries to protect local industry from cheap foriegn imports. The duty was then imposed on material coming from China and Korea in 2015 for a period of five years.

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