Steel Stocks Rally as DGTR Proposes 12% Safeguard Duty

Shares of

el, JSW Steel, and L surged by up to 4% on March 18, 2025, following a recommendation by the Directorate General of Trade Remedies (DGTR) to impose a 12% safeguard duty on select steel products. The move comes in response to a sharp increase in imports of alloy and non-alloy steel flat products, which the authority warns could severely impact domestic manufacturers. The DGTR has proposed the duty, to be applied ad valorem for 200 days, to protect Indian steel companies from the influx of cheaper foreign steel. This development has sparked optimism among investors, driving gains in major steel stocks. The recommendation aims to level the playing field for domestic producers, who have faced mounting pressure from rising import volumes. Market analysts expect this temporary measure to bolster the profitability of leading firms like Tata Steel, JSW Steel, and SAIL, which dominate India’s steel production landscape.