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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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freelance content creation for online marketing campaigns ✌️【365vc.net】✌️Start investing with just ₹500. Leverage AI tools for smart decisions and maximize your profits. Join now!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.

freelance content creation for online marketing campaigns ✌️【365vc.net】✌️Start with ₹500 and achieve up to 100% monthly returns. Simple, safe, and highly profitable.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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