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1️⃣ A 12% safeguard duty on flat steel imports may increase prices by ₹6,000 per tonne.
2️⃣ The move supports domestic steelmakers but may raise costs for end-users.
3️⃣ Industries dependent on flat steel could see increased production expenses.
The Indian government is considering imposing a 12% safeguard duty on flat steel imports, a move that could drive domestic prices up by ₹6,000 per tonne. The proposed duty aims to shield Indian steel manufacturers from a surge in cheaper imports, primarily from China, Korea, and Vietnam.
Industry insiders believe the price hike will benefit domestic producers like JSW Steel, Tata Steel, and SAIL, improving their profit margins. However, the increased costs may impact downstream industries such as automotive, construction, and infrastructure, which rely heavily on flat steel products.
Experts predict that if implemented, the safeguard duty could temporarily stabilize the steel sector by reducing import reliance. However, end-users may face higher costs, potentially affecting demand and production costs across industries.
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