Polyvinyl Alcohol from China, Japan, and Korea PDF
Preview Polyvinyl Alcohol from China, Japan, and Korea
Polyvinyl Alcohol from China, Japan, and Korea Investigation Nos. 731-TA-1014, 1015, and 1017 (Second Review) Publication 4533 May 2015 U.S. International Trade Commission Washington, DC 20436 U.S. International Trade Commission COMMISSIONERS Meredith M. Broadbent, Chairman Dean A. Pinkert, Vice Chairman Irving A. Williamson David S. Johanson F. Scott Kieff Rhonda K. Schmidtlein Catherine DeFilippo Director of Operations Staff assigned Mary Messer, Investigator Jennifer Catalano, Industry Analyst Samantha Day, Economist Charles Yost, Accountant Lita David-Harris, Statistician Darlene Smith, Statistical Assistant Mary Jane Alves, Attorney Douglas Corkran, Supervisory Investigator Address all communications to Secretary to the Commission United States International Trade Commission Washington, DC 20436 U.S. International Trade Commission Washington, DC 20436 www.usitc.gov Polyvinyl Alcohol from China, Japan, and Korea Investigation Nos. 731-TA-1014, 1015, and 1017 (Second Review) Publication 4533 May 2015 CONTENTS Page Determinations ....................................................................................................................... 1 Views of the Commission ........................................................................................................ 3 Part I: Introduction and overview .......................................................................................... I‐1 Background ................................................................................................................................ I‐1 The original investigations ........................................................................................................ I‐2 The Commission’s investigations .......................................................................................... I‐2 Subsequent proceedings ....................................................................................................... I‐3 Summary data ........................................................................................................................... I‐4 Related investigations ............................................................................................................... I‐8 The Commission’s related investigations and reviews ......................................................... I‐8 Litigation in related investigations ........................................................................................ I‐9 Statutory criteria and organization of the report ................................................................... I‐10 Statutory criteria ................................................................................................................. I‐10 Organization of report ......................................................................................................... I‐12 Commerce’s reviews ............................................................................................................... I‐13 Administrative reviews ........................................................................................................ I‐13 Five‐year reviews ................................................................................................................. I‐14 The subject merchandise ........................................................................................................ I‐15 Commerce’s scope .............................................................................................................. I‐15 Tariff treatment ................................................................................................................... I‐16 The domestic like product ....................................................................................................... I‐16 Description and applications ............................................................................................... I‐16 Manufacturing processes .................................................................................................... I‐18 Domestic like product issues ................................................................................................... I‐18 U.S. market participants .......................................................................................................... I‐19 U.S. producers ..................................................................................................................... I‐19 U.S. importers ...................................................................................................................... I‐21 U.S. purchasers .................................................................................................................... I‐23 Apparent U.S. consumption and market shares ..................................................................... I‐23 Apparent U.S. consumption ................................................................................................ I‐23 Market shares ...................................................................................................................... I‐25 Part II: Conditions of competition in the U.S. market ............................................................ II‐1 U.S. market characteristics ....................................................................................................... II‐1 Channels of distribution ........................................................................................................... II‐1 Geographic distribution ........................................................................................................... II‐2 Supply and demand considerations ......................................................................................... II‐2 U.S. supply ............................................................................................................................ II‐2 U.S. demand ......................................................................................................................... II‐7 i CONTENTS Page Substitutability issues ............................................................................................................. II‐11 Lead times .......................................................................................................................... II‐11 Knowledge of country sources ........................................................................................... II‐11 Factors affecting purchasing decisions............................................................................... II‐12 Comparisons of domestic products, subject imports, and nonsubject imports ................ II‐15 Comparison of U.S.‐produced and imported PVA .............................................................. II‐19 Elasticity estimates ................................................................................................................. II‐23 U.S. supply elasticity ........................................................................................................... II‐23 U.S. demand elasticity ........................................................................................................ II‐23 Substitution elasticity ......................................................................................................... II‐23 Part III: Condition of the U.S. industry ................................................................................. III‐1 Overview ................................................................................................................................. III‐1 Background .......................................................................................................................... III‐1 Changes experienced by the industry ................................................................................. III‐1 Anticipated changes in operations ...................................................................................... III‐2 U.S. production, capacity, and capacity utilization ................................................................. III‐2 Constraints on capacity ....................................................................................................... III‐2 Alternative products ............................................................................................................ III‐2 Toll production .................................................................................................................... III‐3 Foreign trade zone............................................................................................................... III‐3 U.S. producers’ U.S. shipments and exports ........................................................................... III‐3 End use applications ............................................................................................................ III‐4 Hydrolysis levels .................................................................................................................. III‐4 U.S. producers’ inventories ..................................................................................................... III‐4 U.S. producers’ imports and purchases .................................................................................. III‐5 U.S. employment, wages, and productivity ............................................................................ III‐5 Financial experience of U.S. producers ................................................................................... III‐6 Background .......................................................................................................................... III‐6 Operations on PVA .............................................................................................................. III‐6 Variance analysis ............................................................................................................... III‐10 Capital expenditures and research and development expenses ...................................... III‐10 Assets and return on investment ...................................................................................... III‐11 Part IV: U.S. imports and the foreign industries ................................................................... IV‐1 U.S. imports ............................................................................................................................. IV‐1 Overview .............................................................................................................................. IV‐1 Imports from subject and nonsubject countries ................................................................. IV‐2 U.S. importers’ imports subsequent to September 30, 2014 ............................................. IV‐5 Excluded forms of PVA ........................................................................................................ IV‐5 ii CONTENTS Page Cumulation considerations ..................................................................................................... IV‐5 Fungibility ............................................................................................................................ IV‐5 Presence in the market ....................................................................................................... IV‐7 Geographical markets ......................................................................................................... IV‐7 U.S. importers’ inventories ..................................................................................................... IV‐7 The industry in China ............................................................................................................... IV‐9 Overview .............................................................................................................................. IV‐9 PVA operations .................................................................................................................. IV‐10 Alternative products .......................................................................................................... IV‐14 The industry in Japan ............................................................................................................ IV‐14 Overview ............................................................................................................................ IV‐14 Changes experienced by the industry ............................................................................... IV‐15 Anticipated changes in operations .................................................................................... IV‐15 Operations on PVA ............................................................................................................ IV‐15 End‐use applications .......................................................................................................... IV‐19 Hydrolysis levels ................................................................................................................ IV‐19 Alternative products .......................................................................................................... IV‐19 The industry in Korea ............................................................................................................ IV‐21 Subject country producers .................................................................................................... IV‐23 Antidumping or countervailing duty orders in third‐country markets ................................. IV‐23 Global market ........................................................................................................................ IV‐24 Capacity, production, imports, exports, and consumption .............................................. IV‐26 Foreign demand ................................................................................................................. IV‐28 Prices ................................................................................................................................. IV‐52 Part V: Pricing data ............................................................................................................... V‐1 Factors affecting prices ............................................................................................................ V‐1 Raw material costs ............................................................................................................... V‐1 Transportation costs to the U.S. market .............................................................................. V‐2 U.S. inland transportation costs ........................................................................................... V‐3 Pricing practices ....................................................................................................................... V‐3 Pricing methods .................................................................................................................... V‐3 Sales terms and discounts .................................................................................................... V‐4 Price leadership .................................................................................................................... V‐4 Price data .................................................................................................................................. V‐5 Price trends ........................................................................................................................... V‐8 Price comparisons ................................................................................................................ V‐9 Purchasers’ perceptions of relative price trends ............................................................... V‐10 iii CONTENTS Page Appendixes A. Federal Register notices ................................................................................................. A‐1 B. The domestic interested parties’ request to cancel the Commission’s hearing ............ B‐1 C. Summary data ................................................................................................................ C‐1 D. Comments by U.S. producers, importers, purchasers, and foreign producers regarding the effects of the orders and the likely effects of revocation ....................... D‐1 Note.–Information that would reveal confidential operations of individual concerns may not be published and therefore has been deleted from this report. Such deletions are indicated by asterisks. iv UNITED STATES INTERNATIONAL TRADE COMMISSION Investigation Nos. 731‐TA‐1014, 1016, and 1017 (Second Review) Polyvinyl Alcohol from China, Japan, and Korea DETERMINATIONS On the basis of the record1 developed in the subject five‐year reviews, the United States International Trade Commission (“Commission”) determines, pursuant to the Tariff Act of 1930, that revocation of the antidumping duty orders on polyvinyl alcohol from China and Japan would be likely to lead to continuation or recurrence of material injury to an industry in the United States within a reasonably foreseeable time and that revocation of the antidumping duty order on polyvinyl alcohol from Korea would not be likely to lead to continuation or recurrence of material injury to an industry in the United States within a reasonably foreseeable time. BACKGROUND The Commission, pursuant to section 751(c) of the Tariff Act of 1930 (19 U.S.C. § 1675(c)), instituted these reviews on March 3, 2014 (79 FR 11821) and determined on June 6, 2014 that it would conduct full reviews (79 FR 69127, November 20, 2014). Notice of the scheduling of the Commission’s reviews and of a public hearing to be held in connection therewith was given by posting copies of the notice in the Office of the Secretary, U.S. International Trade Commission, Washington, DC, and by publishing the notice in the Federal Register on November 20, 2014 (79 FR 69127) (schedule revision published on February 5, 2015 (80 FR 6546)). The hearing, which was scheduled by the Commission to be held in Washington, DC, on March 10, 2015, was cancelled by the Commission at the request of the domestic interested parties (80 FR 13024, March 12, 2015). 1 The record is defined in sec. 207.2(f) of the Commission’s Rules of Practice and Procedure (19 CFR § 207.2(f)).
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