Product description – The product under consideration in the present investigation is certain antioxidants.

HS Codes – 29071990, 29072990, 29096000, 29096090, 29181990, 29182910, 29182990, 29183090, 29189990, 29202910, 29202930, 29202990, 29209000, 29209090, 29241990, 29242990, 29280090, 29309099, 29336990, 29339990, 38112900, 38119000, 38122090, 38123910, and 38123990.

Uses – Antioxidant additives in polymers are essential to prevent oxidation. Plastic products are manufactured at high temperatures which compromises the raw polymers, as they are exposed to a process called thermal oxidation. For the polymer to remain stable, antioxidants are introduced during the manufacturing process. It is used by petrochemical companies producing plastics like polyolefins, styrenics, PVC, etc. as the stabiliser/ additives. It is also used during the manufacturing of plastic components using base raw materials like polyolefins, styrenics, PVC, etc and in the rubber, oil, coatings and, lubricant industry to provide long term stability and durability.

Countries Involved – China PR, Korea RP and Singapore

Applicant – Vinati Organics Limited (VOL)

Period of investigation – 1^st January 2025 to 31^st December 2025

Injury period – 2022-23, 2023-24, 2024-25 and the period of investigation

Facts of the present case – The present application was filed by M/s Vinati Organics Limited which commenced production in October 2022. There are two other producers in India i.e., HPL Additives Limited (HPL) and Krishna Antioxidants Pvt Ltd. (Cristol). The investigation has been initiated as it was prima facie noted that the volume of imports from the subject countries have increased in absolute terms. Imports in relative terms are significant despite existence of sufficient production capacities with the domestic industry. Landed price of the imports has been below the level of cost of sales throughout the injury period, which has prevented the domestic industry from increasing its prices to recover the full cost and achieve a reasonable rate of return, resulting in the domestic industry suffering losses. Despite having capacity to cater to Indian demand market share of the domestic industry is relatively low. While production and sales of the domestic industry have increased over the injury period, capacity with the domestic industry remains grossly underutilized. The level of inventories is significant. Due to presence of dumped imports, performance has been adversely affected in terms of profitability, cash profits, and ROI. Accordingly, the Authority, having been prima facie satisfied by the information provided, found it appropriate to initiate the investigation to determine the existence, degree and effect of the alleged dumping of the subject goods originating in or exported from the subject countries vide Notification No. F. No. 6/33/2026-DGTR.