Final finding issued recommending anti-dumping duties on imports of PVC Suspension Resin from China PR, Indonesia, Japan, Korea RP, Taiwan, Thailand and the United States of America. (14.08.2025)

Product description – Homopolymer of Vinyl Chloride Monomer (suspension grade) also known as PVC Suspension Resin manufactured through suspension polymerisation process with K value above 55 and upto 77.

HS Codes – 3904 10 90, 3904 21 00, 3904 10 10, 3904 22 00, 3904 90 10, 3904 90 90, 3904 30 00 and 3904 21 10.

Uses – The product under consideration is used for manufacturing various products like pipes & fittings, flexible hoses, films/sheets, bottles profiles, wire and cables, footwears, etc.

Countries Involved – China, Indonesia, Japan, Korea, Taiwan, Thailand and the United States of America.

Applicants –

Chemplast Cuddalore Private Limited (‘CCVL’),
DCM Shriram Limited (‘DCM’) and,
DCW Limited (‘DCW’)

Period of investigation – 1^st October 2022 to 30^th September 2023.

Injury period – 1^stApril 2020 – 31^st March 2021, 1^st April 2021 – 31^st March 2022, 1^st April 2022- 31^st March 2023 and the period of investigation.

Margins and recommended duties –

Country	Producer	Dumping Margin	Injury Margin	Duty
		(%)	(%)	(USD/MT)
China	Chiping Xinfa Polyvinyl Chloride Co., Ltd.	70-80%	5-15%	177
	Chiping Xinfa Huaxing Co., Ltd.	70-80%	5-15%	177
	Tianjin Bohua Chemical Development Co., Ltd.	70-80%	5-15%	122
	Qingdao Haiwan Chemical Co., Ltd.	70-80%	5-15%	134
	Non-Sampled Cooperative Producers	70-80%	5-15%	140
	Any others	70-80%	5-15%	232
Indonesia	PT. Asahimas Chemicals	40-50%	5-15%	55
	PT. TPC Indo Plastic and Chemicals	40-50%	5-15%	57
	Any	40-50%	5-15%	204
Japan	Kaneka Corporation	30-40%	5-15%	49
	Shin-Etsu Chemical Co., Ltd.	25-35%	5-15%	68
	Taiyo Vinyl Corporation	25-35%	5-15%	87
	Non-sampled cooperative producers	25-35%	5-15%	66
	Any others	25-35%	5-15%	148
Korea	LG Chem, Ltd.	65-75%	0-10%	46
	Hanwha Solutions Corporation	65-75%	0-10%	NIL
	Any others	65-75%	0-10%	169
Taiwan	China General Plastics Corporation CGPC	45-55%	0-10%	22
	CGPC Polymer Corporation	45-55%	0-10%	22
	Ocean Plastic Countervailing., Ltd.	45-55%	0-10%	57
	Formosa Plastics Corporation	45-55%	0-10%	47
	Any others	45-55%	0-10%	205
Thailand	Thai Plastics and Chemicals Plc.	45-55%	0-10%	60
	AGC Vinythai Public Company Limited	45-55%	0-10%	78
	Any others	45-55%	0-10%	193
United States of America	Westlake Chemicals & Vinyls LLC	40-50%	10-20%	118
	Westlake Vinyls Inc.	40-50%	10-20%	118
	Westlake Vinyls Company LP	40-50%	10-20%	118
	Shintech Incorporated	40-50%	10-20%	72
	Shintech Louisiana LLC	40-50%	10-20%	72
	Oxy Vinyls L.P.	40-50%	10-20%	174
	Any others	40-50%	10-20%	284

Key Findings –

Ultra-low and Ultra-high k-value, and PVC resins manufactured through emulsion polymerisation, bulk mass polymerization, and micro suspension polymerization process are excluded from the scope of product under consideration.
There is no need for exclusion of any grade of S-PVC used for manufacturing C-PVC as the domestic industry has produced like article to the grades being imported into India.
DCW Limited used its own manufactured S-PVC, domestically manufactured S-PVC and S-PVC purchased from the domestic market for manufacturing of C-PVC.
The applicants constitute major proportion of the total domestic production in India and hence, constituted domestic industry in the present investigation.
While Reliance Industries Limited and Finolex Industries Limited have imported the subject goods from the subject countries, DCW Limited has procured from the domestic market.
Authority has sampled 3 producers each from China and Japan based on the largest volume of exports to India.
The dumping margin quantified by the Authority is positive and significant.
Landed price of subject imports is below the selling price and cost of sales of the domestic industry.
It cannot be said that there were competitive prices in India as the domestic industry was selling the product under consideration at prices less than its cost of sales.
The volume of subject imports has increased in absolute and relative terms and are in excess of the demand-supply gap in India.
The capacity utilization and production has increased due to the nature of the production process and long-term contracts for procurement of raw material. The domestic industry cannot suspend or reduce production even if it has to sell as losses.
Price undercutting is positive and significant.
Subject imports have depressed the prices of the domestic industry. Due to the landed price of imports, the domestic industry has been forced to sell at losses.
Market share of domestic industry, Indian industry and imports from other countries has declined while market share of subject imports has increased.
Inventories increased in 2022-23 and period of investigation.
Profitability parameters of the domestic industry have declined significantly over the injury period.
The domestic industry has incurred financial losses, cash losses and has recorded a negative return on investment.
The deterioration in the economic parameters of the domestic industry cannot be attributed to any factor other than dumping.
Imposition of anti-dumping duty will not be against public interest as it will provide fair playing field to Indian industry and promote investment by the Indian industry.
There will be no adverse impact on the user industry of imposition of anti-dumping duty as the users were able to maintain their profitability when the prices of the product were higher in the past.
The imposition of duty would not cause disadvantage the user industry vis-à-vis global competitors.
Imposition of anti-dumping duty will not create monopoly in the Indian market as there are multiple producers in India and imposition of anti-dumping duty does not restrict imports into India.
Demand-Supply gap is not a justification for dumping in India and in case, dumping remains unchecked, the operations of the domestic industry will become unviable which will lead to increase in demand-supply gap.

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