India extends ADDs on TDI imports from China, Japan, South Korea
MUMBAI (ICIS)–India has extended its antidumping duty (ADD) on imports of toluene di-isocyanate (TDI) from China, Japan and South Korea for another five years, starting 21 September.
The ADD rates range from $0.15/kilogram (kg) to $0.44/kg, unchanged from previous levels.
India TDI antidumping duty rates
|Company||Country||ADD rate ($/kg)|
|Covestro Polymers Ltd||China||0.26|
|Wanhua Chemical Group||China||0.26|
|Hanwha Solutions Corp||South Korea||0.22|
|BASF Company Ltd||South Korea||0.31|
|Any other producer||South Korea||0.44|
It was determined that the “domestic industry had suffered injury due to the dumped imports of the product from the subject countries and the imports are likely to enter the Indian market at dumped prices in the event of cessation of duty”, according to the Department of Revenue of India’s Ministry of Finance.
Following a sunset review of existing ADDs, the Directorate General of Trade Remedies (DGTR) had recommended on 24 June the continuation of the measure on TDI imports form the three northeast Asian countries.
India had earlier imposed a five-year ADD on TDI imports from the three countries on 23 January 2018. In June 2022, the ADD was extended up to 27 September.
Gujarat Narmada Valley Fertilizers & Chemicals (GNVFC), the sole domestic producer had filed the petition to initiate the probe on TDI imports.
The period of investigation was for the fiscal year ending March 2021. For the purpose of injury investigation, the period also covered three fiscal years from 2017-20.
In the near term, the ADD extension is not expected to have a significant impact on India’s overall TDI imports, as buyers remain cautious amid a strengthening US dollar and rising inflation, market players said.
Additional reporting by Shannen Ng
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