Phillips Carbon Black: Anti Dumping Duty Ruled Out, Fundamental Demand Drivers Stay Intact, Says ICICI Direct
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ICICI Direct Report
In a recent notification, the Ministry of Finance has denied extension of anti-dumping duty (ADD) on imports of carbon black (used for rubber application) into India largely from China and Russia.
It is amid the Commerce Ministry proposing an extension of ADD. This comes as a negative surprise to us but does not change any business dynamics for the domestic carbon black players, as of now, including industry leader Phillips Carbon Black Ltd.
As highlighted in our recent report, extension of ADD just ensures better volume offtake for carbon black players and by no means implies better pricing or profitability.
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