GHCL: no impact of 16% duty levy on soda ash prices

The Indian government has imposed a 16% safeguard duty on soda ash imports from China, which is expected to benefit companies such as Tata Chemicals and Gujarat Heavy Chemicals (GHCL), while Hindustan…

The Indian government has imposed a 16% safeguard duty on soda ash imports from China, which is expected to benefit companies such as Tata Chemicals and Gujarat Heavy Chemicals (GHCL), while Hindustan Unilever is likely to be impacted by this levy. Soda ash prices were under pressure in the fourth quarter due to oversupply and un-remunerative prices from China, but then stabilized in the first quarter. GHCL“s Chairman, Sanjay Dalmia, Chairman, GHCL, said the safeguard duty was in place till April and had been extended. However, he said he did not see an impact on soda ash prices because of this move. “We were offering discounts but have stopped those since the past few weeks.”