FIRST on Zee Biz: Big news for NOCIL! Anti-dumping duty on rubber chemical PX 13 imported from EU and MOR from China- Know what Anil Singhvi says

In a major development, the Centre has decided to impose anti-dumping duty on rubber chemical PX 13 imported from EU and chemical MOR imported from China, said Zee Business Special Correspondent Anurag Shah in chat with Zee Business Managing Editor Anil Singhvi said on Wednesday.

Shah said that the Department of Revenue under Ministry of Finance has issued a notification regarding the anti-dumping duty on rubber chemical being imported from EU. The Ministry has said in the notification that the domestic industry has faced losses due to higher quantity and low cost import of these rubber chemicals.

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He further informed that the anti-dumping duty will be applicable on rubber chemical MOR which is being imported from China as well. MOR is being used in tyre and rubber industry and hence it is a good news for the companies involved in this.

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NOCIL के लिए बड़ी खबर...

कम किमत पर इंपोर्ट से घरेलू इंडस्ट्री को हुआ नुकसान, EU से इंपोर्टेड रबर केमिकल PX- 13 और चीन से आने वाले रबर केमिकल MOR पर एंटी डंपिंग ड्यूटी लगी, नोटिफिकेशन हुआ जारी.#Tyre #China #EuropeanUnion @AnilSinghvi_ @anuragshah_ pic.twitter.com/PZw2hGNNTr

— Zee Business (@ZeeBusiness) September 15, 2021

Speaking on the same, Anil Singhvi said that the news will impact stocks of NOCIL. NOCIL has a market share of 70 percent in PX 13 chemical.

Earlier it was informed that after receiving complaint from NOCIL, the Director General of Trade Remedies (DGTR) has launched investigating in the matter on May 27, 2020.

NOCIL shares are trading strongly with nearly 5 percent gains on Wednesday. The shares of the company were trading at Rs 306.80 up by 13.80 points or 4.71 percent on NSE at 11:24 am.