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2mo ago

India Proposes Three-Year Tapering Safeguard Duty on Flat Steel Imports

Having concluded that surging low-priced imports harmed domestic producers, DGTR sent its duty recommendation to CBIC, followed by the finance ministry for approval.

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The recommendation is aimed at curbing rising shipments from top steel producers like China.
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Overview

  • DGTR recommended a safeguard duty of 12% in the first year, 11.5% in the second year and 11% in the third after finding a significant surge in low-priced flat steel imports.
  • The proposed measure covers hot-rolled, cold-rolled, metallic-coated and colour-coated flat steel products while exempting specialty steels.
  • Importers meeting specified CIF-dollar-per-tonne thresholds—ranging from $675 for hot-rolled coils to $964 for colour-coated products—would be exempt from the duty.
  • Steelmakers led by the Indian Steel Association welcomed the recommendation as essential support, while more than 250 downstream users warned of higher costs and weakened export competitiveness.
  • Shares of Tata Steel, JSW Steel, SAIL and other domestic producers rallied following the announcement, which now awaits formal notification from CBIC and the finance ministry before taking effect.