Anti-dumping duty fuels phenol prices

Many chemical manufacturers such as Schenectady Herdilia Group and Hindustan Organic Chemicals have been revising prices of phenol after the government imposed anti-dumping duty on this benzene-based chemical last week.

The companies may further hike prices from October as crude oil and benzene and propylene gas "" basic raw materials for phenol and acetone "" are also rising. The Centre, with effect from September 19, had imposed anti-dumping duty in the range of $137-196 per tonne on imports, especially from the USA, Korea and Taiwan. Prices of phenol produced by SI Group have gone up 12 per cent to Rs 79 per kg and had touched Rs 76 in the last one month. It is quoted at $1500 in the international market.

"The phenol market is tight as anti-dumping duty is also being passed on and international price of benzene and propylene are surging," said Janak Ladhani, director, Sonkamal Enterprise. Anti-dumping duty was also imposed on nonylphenol last month at $163.62 a tonne on imports from Chinese Taipei. SI group had recently raised the price by 8 per cent to Rs 94/kg.

Acetone prices are steady around $950 and local prices are hovering at Rs 51-52 per kg. Local manufacturers have asked the Centre to include imports from the USA and Korea in the list of countries on which anti-dumping duty applies.