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✔️ India plans up to 15% safeguard duty on steel imports.
✔️ Measure aims to counter increased Chinese steel shipments.
✔️ Government reviewing trade data before final decision.
India is considering imposing a safeguard duty of up to 15% on steel imports to protect domestic producers from a surge in low-cost shipments from China. The move aims to curb the rising pressure on local manufacturers, who have seen margins shrink due to increased competition from imported steel.
According to industry insiders, the proposed duty could apply to various steel products, including hot-rolled coils (HRC), cold-rolled coils (CRC), and galvanized steel. The Indian government is currently reviewing trade data and consulting with key stakeholders before finalizing the decision.
A senior official stated, "The influx of cheaper Chinese steel is creating an uneven playing field for domestic manufacturers. The safeguard duty will help balance market conditions and support local production."
India’s steel imports rose by 22% year-on-year in the last quarter, with Chinese shipments accounting for nearly 50% of the total. If implemented, the safeguard duty could stabilize domestic pricing and improve profitability for Indian steelmakers.
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