Chinese-Saudi tit for tat seen on Chemical

SAUDI companies are urging Riyadh to impose tariffs on Chinese imports in reaction to Beijing’s inquiry into allegations of Saudi dumping of methanol in China. Saudi Arabia and three other countries are suspected of dumping methanol transported to China below production prices, said a report by IHS Global Insight, which added that Chinese producers were left with the National Centre for the Development of Saudi Exports and other Saudi bodies have urged Riyadh to apply the same principles and place duties on Chinese imports, the report added. “The stakes remain particularly high, given that methanol exports to China account for an estimated 10% of Saudi petrochemical exports, a trade estimated to be worth $2Bn in 2008,” Global Insight commented. Saudi companies meantime have long complained about Chinese products flooding Saudi markets, including steel, plastics and electrical goods.