India scraps proposal to implement antidumping duty on LDPE imports

India has decided to scrap a proposal to levy antidumping duties on imports of low density polyethylene, the department of revenue said June 6.

India's Directorate General of Trade Remedies had recommended antidumping duties ranging $17.05-$216.76/mt from April 1 for five years, on the grounds that imports depressed domestic prices and were hurting Indian producers.

Market sources welcomed the decision to do away with the proposed ADD. High domestic costs were already putting inflationary pressures on end-product prices and the levy would have added to it, a source said.

India imported about 230,000 mt LDPE in 2021, according to customs data.

India's domestic LDPE production capacity is around 600,000 mt/year, according to market sources. Domestic production is insufficient to match demand, which is pegged at 800,000-1 million mt/year and growing.

Platts assessed South Asian general-purpose, low-density grade polyethylene at $1,550/mt CFR South Asia June 6 for H2 June cargo deliveries, according to S&P Global Commodity Insights.