Phillips Carbon Black: Anti Dumping Duty Ruled Out, Fundamental Demand Drivers Stay Intact, Says ICICI Direct 
The tread of a newly manufactured tyre is visible at an auto show. (Photographer: Gianluca Colla/Bloomberg)

Phillips Carbon Black: Anti Dumping Duty Ruled Out, Fundamental Demand Drivers Stay Intact, Says ICICI Direct 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Direct Phillips Carbon Company Update.pdf

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