Chemanol imposes anti-dumping duties on concrete additive imports from China, Russia

04/12/2024 Argaam
Logo ofMethanol Chemicals Co. (Chemanol)

Logo of Methanol Chemicals Co. (Chemanol)

Methanol Chemicals Co. (Chemanol) announced that the General Authority of Foreign Trade (GAFT) issued a decision imposing anti-dumping duties on imports of Sulfonated Naphthalene Formaldehyde (SNF) – concrete additives – from China and Russia.

 

In a statement to Tadawul, the company confirmed that it is the largest manufacturer of concrete additives in the Kingdom, with an annual production of nearly 163,000 tons.

 

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The financial impact of this decision is expected to be positive. However, the exact extent will be determined after a comprehensive analysis of market variables and the decision's repercussions.

 

Any new developments will be announced in due course.

 

The GAFT decision is part of the government's support for the national industry in providing a fair and competitive environment in line with international trade regulations, the statement added.

 

The decision will improve Chemanol’s overall results and curb unfair competition in marketing SNF within the local market.

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