An increase in number of anti dumping cases likely as petrochem prices dip in 2012

16-Dec-11

Lowering of petrochemical prices in 2012 could see a spate of antidumping proposals initiated against petrochemical producers in the Middle East, as per Hamad Al Terkait, President and CEO of Kuwait Equate Petrochemical Company ahead of the GPCA meet, as per Platts 2012 is likely to see strong competition between producers in the Middle East and Asia as products from newly started up plants hit the Asian markets. At the same time, products from new complexes like Saudi Kayan will begin moving into the markets Over the past year, producers in the Middle East have been the target of antidumping penalties from several countries, including India and Turkey. In 2010, Turkey levied an antidumping duty of 6% on monoethylene glycol imports from Equate and Sabic, and another antidumping fee of 20% on imports from Saudi Arabia. Meanwhile in November of 2010, India imposed a range of antidumping duties on polypropylene producers in the Middle East.