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In this milieu, inventory levels of steel firms have risen from the normal 15-16 days to 30 days.AlthoughIndiais the world’s second-largest crudesteelproducer, it has become a net importer of finished steel since last fiscal, marking a shift in status as a net exporter since FY20.

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using ai for predictive maintenance in industrial automation ✌️【365vc.net】✌️Small investment, big returns! Start at ₹500 and grow your wealth month by month.The ministry of steel has sought a 25% safeguard duty for two years to curb cheap Chinese imports that account for 30% of India’s steel imports till October this fiscal and are up by 35.4% year-on-year.But how efficacious is a safeguard duty? While targeting China is the objective, the problem is that shipments are also rising from Japan and South Korea.

using ai for predictive maintenance in industrial automation ✌️【365vc.net】✌️Save, invest, and grow! ₹500 to begin, with potential for 100% monthly profits.These are countries with which India has inked comprehensive economic partnership agreements.

In fact, around 62% steel imports at nil duties are currently landing from countries with which India has signed free trade agreements.

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