26 September 2013 10:21 [Source: ICIS news]
By Nurluqman Suratman and Heng Hui
SINGAPORE I(ICIS)--India’s import prices of methylene chloride are expected to rise in October amid expectations that anti-dumping duties (ADD) will be imposed on products coming from South Korea, EU and the US, market sources said on Thursday.
October-loading prices may increase by as much as $50/tonne (€37/tonne), they said. September bulk deals concluded at $400-450/tonne CIF (cost, insurance and freight) India.
Preliminary findings from India’s Department of Commerce issued in early September, support the imposition of $320-360/tonne ADDs on methylene chloride imports from the US and EU, and a lower ADD of $210/tonne for material from South Korea and any other country.
Concerned market players were given 40 days from 6 September to respond to the government’s initial findings.
In September, a major producer with US and European branches had offered $500/tonne CIF India for October-loading cargoes, while an Indian end-user bought parcels from Europe for October shipment at $450-460/tonne CIF India.
India is the biggest buyer of methylene chloride in Asia.
Early this year, domestic methylene chloride producers Chemplast Sanmar and Gujarat Fluorochemicals filed a letter of complaint to the Indian government, accusing exporters of being overly competitive, which put the domestic players at a disadvantage.
According to the initial findings of India’s Department of Commerce, “the domestic industry has not suffered volume injury on account of dumped imports of subject goods from subject countries”.
“However, with regard to price effect on account of imports of subject goods from subject countries, it is noted that imports of the subject goods from subject countries are significantly undercutting the prices of domestic industry,” it said.
After the 40 days given to market players to comment on the preliminary findings, India’s Directorate General of Anti-Dumping and Allied Duties will frame its final readings and recommend the final ADDs on methylene chloride.
($1 = €0.74)
Additional reporting by Ajoy K Das
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