Indian Government Extends Anti-Dumping Duty on Chinese and Korean Caustic Soda by 3 Months
- 18-Aug-2020 11:00 AM
- Journalist: Timothy Greene
Government of India has extended anti-dumping duty on imports of Caustic Soda from China and Korea till November this year. The decision has been taken after the suggested recommendations of commerce ministry’s investigation body Directorate General of Trade Remedies (DGTR), in its efforts to safeguard the domestic industry from the cheap chemical imports from China and Korea. The duty was initially implemented in 2012 on a different group of countries to prevent material injury from undue dumping of Caustic from foreign players. The duty was then imposed on August 18, 2015 on material coming from the People’s Republic of China and Korea RP for a period of five years. The move has been taken after India’s focus towards boycotting Chinese products amplified post the India-China border face-off in Galwan. The duty shall remain in force till 17th November, 2020 unless revoked before time.Domestic Chlor-Alkali industry is thriving to bounce back after witnessing a slump due to fall in demand from several downstream sectors amid the pandemic. Local players have recorded significant improvement in demand for Chlorine derivatives driven by strong consumption from disinfectant and hygiene products in the fourth quarter. However, the domestic Caustic Soda demand staged a strong recovery in sales volume after the quarter ending June. Caustic Soda Lye Ex-Depot Mumbai prices have rebounded to $320 per MT in August compared to the July levels when the prices had eased below $300 per MT.