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India proposes 12% safeguard duty on flat steel imports for 200 days

Synopsis:

India’s DGTR has proposed a 12% safeguard duty on flat steel imports for 200 days, affecting major steel stocks. JSW Steel share price and Tata Steel share price will be under watch as Nifty Metal Index gains 10% in March 2025.


The Directorate General of Trade Remedies has recommended a 12% provisional safeguard duty on flat steel imports for 200 days, citing a sharp increase in imports that threatens domestic producers. The decision impacts major steel players like JSW Steel, Tata Steel, and SAIL, whose stock movements will be closely monitored. The Nifty Metal Index, which has already risen 10% in March, is expected to react sharply to this announcement.

Also read: G R Infraprojects Secures NHAI Project Worth Rs 42.63 Billion

JSW STEEL LIMITED

Trade

1029.8-5.79 (-0.55 %)

Updated - 30 April 2025
1042.30day high
DAY HIGH
1021.00day low
DAY LOW
1755328
VOLUME (BSE)

Key takeaways

  • 12% safeguard duty imposed on flat steel imports for 200 days

  • Stocks of JSW Steel, Tata Steel, SAIL, and other steel firms in focus

  • The duty applies to hot-rolled, cold-rolled, and coated steel products

  • Domestic steel prices are 7% to 8% higher than import parity

  • The Nifty Metal Index has surged 10% in March 2025

Also read: Delhi’s Power Demand to Cross Record 9,000 MW This Summer

Impact on steel companies and market reaction

The DGTR’s decision is set to impact JSW Steel share price, Tata Steel share price, and other leading steel stocks. The safeguard duty applies to hot-rolled coils, cold-rolled sheets, and colour-coated steel, including galvanneal-coated variants. With domestic steel already at a premium, this measure aims to shield local manufacturers from surging imports.

Here’s a quick look at how steel stocks have performed in March so far:

Steel stock

March gains (%)

Tata Steel

13%

JSW Steel

8%

JSPL

8%

Nifty Metal Index

10%

Despite industry demand for a 25% duty, the government has balanced safeguarding domestic production with affordability concerns for downstream industries. The move comes amid China’s supply reforms, which could further impact global steel prices.

The safeguard duty aims to protect India’s steel manufacturers, but its impact on downstream industries remains uncertain. With JSW Steel share price and Tata Steel share price already seeing fluctuations, investors will watch the steel sector closely.

Also read: Premier Explosives Secures Rs 189 Million Defence Export Order

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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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