Low petrochemical prices in 2012 could lead to more antidumping duties levied against Middle Eastern producers, EQUATE CEO says; in past year, India levied duties on imports of Middle East PP while Turkey levied duties on imports of MEG from region
December 13, 2011
– Low prices for petrochemicals next year could lead to a slew of antidumping cases launched against Middle Eastern producers, Platts reported Dec. 13, citing an interview with Hamad Al Terkait, president and CEO of Kuwait-based EQUATE Petrochemical Co., and vice chairman of the Gulf Petrochemical Association.
Platts interviewed Al Terkait prior to the sixth annual GPCA conference in Dubai Dec. 13-15.
Al Terkait says he foresees robust competition between Asian and Middle Eastern producers next year as products from complexes that recently came online hit the Asian market. One such complex is Saudi Kayan Petrochemical Co.’s Jubail, Saudi Arabia-based facility that initiated production of aromatics, intermediates and polymers in October 2011.
Platts reported that Middle Eastern producers have been hit with antidumping fines over the past year from several countries, such as India and Turkey. India levied multiple antidumping duties on Middle Eastern polypropylene producers in November 2010 while Turkey slapped duties on imports of monoethylene glycol from EQUATE and Saudi Basic Industries Corp. (SABIC).
The primary source of this article is Platts, New York, New York, Dec. 13, 2011.