Domestic manufacturers of Polyethylene Terephthalate (PET) Resin have filed an application for imposition of Anti-Dumping Duty on cheaper imports from China. PET Resin being a widely used engineered thermoplastic across automotive, packaging, textile industries etc., has seen a surge in imports in the last quarter. Imports have steadily increased for the third consecutive month for the Q1 FY 2020, recovering from the sudden crash following COVID-19 outbreak. However, dumping from China has been a persistent problem for domestic players since April 2018. Domestic manufacturers, mainly Reliance Industries Limited (RIL) and IVL Dhunseri Petrochem Industries Private Limited filed the application citing injury to the domestic industry from alleged dumping. Imports from Thailand, Indonesia, Malaysia and other Middle Eastern countries are insignificant as compared to imports from China as stated by the Directorate General of Trade Remedies (DGTR) and that a provisional duty imposition should be in place to minimise dumping and protect the interest of the domestic players. The provisional duty can be imposed only after 60 days of initiation of investigation and would be valid for 180 days from effect. Domestic PET Resin prices are superior in quality and are not readily available at times, making it difficult for traders and small manufacturers to afford high domestic prices of the product.
Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/polyethylene-terephthalate-pet-resin-imports-from-china-may-face-anti-dumping-duty-1305
PET Resin shipments being primarily received at Bangalore ICD, Madras port and JNPT port are imported with the HS Code 39076190 has highly stressed availability in the country following complete halt and subsequent gradual restart of production. However, the investigation will keep recycled PET out of the scope of consideration and only the import of virgin PET resins to be investigated, post which appropriate duties may be recommended to the Finance ministry for imposition.
ChemAnalyst is a ‘one stop’ digital platform that offers comprehensive market intelligence data and in-depth analysis of the Indian chemical and petrochemical industry. ChemAnalyst’s team of 100+ analysts are engaged in tracking chemical prices daily, production capacity, demand and supply outlook, manufacturing plant locations, foreign trade data and news/deals for more than 400 major chemicals produced in India. ChemAnalyst is promoted by TechSci Research which is an award winning research based management consulting firm providing market research and advisory solutions to the customers worldwide, spanning a range of industries including Chemicals & Material, Automotive, Consumer & Retail, ICT, Energy & Power, Aerospace & Defence, Water and Waste Management, BFSI and more.
For more information, please visit us at www.chemanalyst.com
B-44 Sector-57 Noida,
National Capital Region