24 November 2010 10:49 [Source: ICIS news]
Saudi Arabian producers, along with commerce ministry officials, were in talks on Wednesday with Indian government officials on the ADD imposition, said the source familiar with the discussions.
“Saudi producers are hoping the Indian government will reverse or at least dilute the ADD after listening to their arguments so that they won’t have to appeal to the World Trade Organisation (WTO),” the source said.
Official comments from the parties involved could not be obtained.
There was little likelihood of the Indian government revoking the ADD duties, a source close to an Indian PP producer said.
“It’s too late, the final duties have already been announced. Indian producers would welcome it if the Saudi government takes the issue to the WTO, as the Indians have a strong case,” he said.
"I think they are probably trying to pressure the Indian government by talking of going to the WTO, but it won't work. They won't be able to justify the 30% subsidy on propane feedstock that they enjoy," said a source close to another Indian producer.
One of the affected PP producers was not inclined to contest
“The company will see whether Indian buyers are willing to absorb the ADD before deciding on its future strategy in
The final duties were much lower than the provisional tariffs announced.
Among the producers affected by the ADD duties on PP products are Singapore-based ExxonMobil Chemical Asia Pacific, Basell International Trading FZE, Saudi Yanbu Petrochemical Company and Saudi Polyolefins Company.
($1 = €0.75)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections