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Nomura Research predicts that India’s safeguard duty on steel imports will drive up domestic steel prices and enhance the profit margins of Indian steel manufacturers. The move aims to curb excessive imports and strengthen local steel producers.
The safeguard duty, introduced to protect Indian mills from foreign competition, is expected to reduce the influx of cheaper steel from countries like China and South Korea. With limited imports, domestic demand will likely push steel prices higher, benefiting major Indian producers such as Tata Steel, JSW Steel, and SAIL.
According to Nomura, these protective measures will also help stabilize steel supply chains, ensuring a more competitive environment for Indian manufacturers. The research firm anticipates that price hikes, coupled with lower import volumes, will contribute to improved profitability across the sector.
Market analysts see the safeguard duty as a crucial step in ensuring fair competition. Investors have responded positively, with steel stocks witnessing an uptick. Meanwhile, industry experts believe this policy will help sustain long-term growth for domestic steelmakers.
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