19 July 2007 11:01 [Source: ICIS news]
SINGAPORE (ICIS news)--Buying sentiment for phenol imports has turned cautious in India following a government ministry’s recommendations to implement fresh anti-dumping duties (ADD) on cargoes from the EU, Singapore and South Africa, traders said on Thursday.?xml:namespace>
The news had no immediate impact on domestic prices of imported phenol, which were largely traded at rupees (Rs) 72-73/kg ($1.78-1.81/kg) ex-tank Kandla, unchanged from the previous week.
The proposed duties are expected to replace an earlier ruling in 2003 where buyers of phenol from the EU,
“People are trying to clear their cargoes quickly, especially the traders who have to be very careful about their volumes,” said an importer in
It was not known when the duties would take effect as the findings were still subject to approval by government authorities, traders and sellers said.
“They will still have to import,” he said.
Imports currently make up nearly half of the total phenol demand in
Separately, the ministry is also carrying out an ADD investigation into imports from
($1 = Rs40.35)
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