DGTR to Look for Anti-Dumping Duty on Phenol imports from USA and Thailand

The commerce ministry’s investigation arm, Directorate General of Trade Remedies (DGTR) has received request from India’s key Phenol manufacturers- Deepak Phenolics Ltd, Hindustan Organics Chemicals Ltd. and SI Group India Pvt. Ltd. to initiate anti-dumping probe on the imports of Phenol, from Thailand and United States of America (USA). The domestic producers of Phenol, a key raw material used in laminates and plywood industry, alleged that dumping from these countries is causing material injury to the local industry. In its recent findings concluded on August 21^st, DGTR stated that imported Phenol volumes are undercutting the prices of the Domestic Industry. DGTR also stressed upon fixing reference price for Phenol imports from US & Thailand and charge the difference between landed value and import reference price as the provisional duty. Deepak Phenolics Ltd, Hindustan Organics Chemicals Ltd. and SI Group India Pvt. Ltd. account for 100% of India’s Phenol production. DGTR had decided to call off the probe on Phenol in March this year after withdrawal of the complaint from the manufacturers. Phenol CFR Kandla prices were assessed at $1055/mt on the week ending August 21, keeping the uptrend in place since mid-May.