- DGTR withdraws earlier three-exporter sampling
- China-origin PVC offer stands at $968/t CFR India
India’s Directorate General of Trade Remedies (DGTR) has withdrawn its earlier three-producer sampling in the countervailing duty investigation into PVC suspension resin from China and will now determine individual subsidy margins for 13 producer/exporter groups, including their related parties. The decision follows submissions on sample representativeness, the number of subsidy programmes under investigation and differences in production routes.
Wider individual assessment
The investigation, initiated on 26 February 2026, had initially moved to a three-exporter sample on 25 September. DGTR’s latest decision brings 13 producer/exporter groups into the individual assessment process, including Qingdao Haiwan Chemical, Tianjin Bohua Chemical, Junzheng Group, Chiping Xinfa Group, Wanhua Group and other Chinese producers. Directorate General of Trade Remedies
The companies are required to submit complete questionnaire responses covering related parties involved in production and sales. Information furnished to DGTR will remain subject to verification.
Import market remains above MIP
The development comes as India’s PVC market is already operating under a $766/t minimum import price (MIP) for suspension-grade PVC. The government has said the six-month measure is intended to address imports priced below assessed domestic production costs, while imports at or above the threshold remain permitted. The Indian Express
A current China-origin PVC suspension resin offer is reported at $968/t CFR India, or $202/t above the MIP, indicating that the offer is presently above the regulatory floor.
Domestic PVC suspension resin prices are assessed at INR 102.5/kg ex-Mumbai, equivalent to INR 102,500/t. The domestic and import prices are on different bases and therefore should not be treated as a direct landed-cost comparison.
Market implications
The CVD development does not impose a countervailing duty at this stage. However, individual subsidy-margin assessment across a broader exporter base could increase scrutiny of Chinese-origin shipments and make the eventual findings more relevant to exporters and Indian importers.
India’s PVC market remains structurally import-dependent. Government data cited in August indicated domestic suspension-PVC capacity of around 1.615 mnt/year against demand of about 4.139 mnt/year, leaving imports important to market supply. The Indian Express
The immediate market focus is therefore likely to remain on exporter responses, DGTR’s verification process and any eventual subsidy margins rather than on an immediate change in PVC prices.
Outlook
Chinese PVC offers are currently above India’s MIP, but the CVD investigation adds another layer of trade-policy uncertainty for Chinese suppliers. Any eventual countervailing measures could influence sourcing economics and trade flows, particularly given India’s continued reliance on imported PVC.
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