15 May 2009 11:27 [Source: ICIS news]
SEOUL (ICIS news)--Indonesia's exports of caustic soda to India will become uncompetitive after New Delhi slapped fresh anti-dumping duties (ADD), traders and producers said on Friday.
India's Ministry of Finance had said on Thursday that the reference price-based ADD would be levied with immediate effect for a period of five years on caustic soda imports from Taiwan, Indonesia and EU, excluding France.
The customs officials would calculate ADD as the difference between a uniform reference price of $415.46/tonne (€306/tonne) and the value of imports arriving at an Indian port.
Indonesian cargoes were expected to become uncompetitive because current import prices were in the low-to-mid $300 dry metric tonnes (dmt) CFR (cost and freight) India, market sources said on the sidelines of the 9th Asia Petrochemical Industry Conference in Seoul.
Indonesia had reportedly sold at least 10,000 tonnes of caustic soda to India early last month.
($1 = €0.73)
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