Steel stocks traded higher on the BSE after the Government of India imposed a 12% safeguard duty on the import of certain non-alloy and alloy steel flat products. This move aims to shield domestic steel manufacturers from rising imports and ensure fair market competition.

Stock Highlights:

• JSW Steel is trading at RS. 1045.20, up by 11.50 points or 1.11% from its previous close of RS. 1033.70. It opened at RS. 1051.95 and touched a high of RS. 1059.10 and a low of RS. 1036.30. So far, 48,260 shares have been traded.

• Steel Authority of India (SAIL) is trading at RS. 117.20, up by 1.20 points or 1.03% from its last close of RS. 116.00. It opened at RS. 118.95 and recorded a high of RS. 118.95 and a low of RS. 116.55. Total traded volume stands at 6,12,138 shares.

• Tata Steel is trading at RS. 140.25, rising by 1.05 points or 0.75% from the previous close of RS. 139.20. It opened at RS. 142.10, hitting a high of RS. 142.85 and a low of RS. 139.60. A total of 12,11,993 shares have exchanged hands.

This safeguard duty is expected to provide crucial relief to domestic producers, especially small and medium enterprises that have been severely impacted by cheap steel imports. It aims to stabilize the market and boost industry confidence.

The safeguard duty will remain effective for 200 days from the notification date unless modified or withdrawn earlier. The government has also fixed import price thresholds ranging between $675 and $964 per tonne across five categories:

• Hot Rolled coils, sheets, and plates

• Hot Rolled Plate Mill Plates

• Cold Rolled Coils and Sheets

• Metallic Coated Steel Coils and Sheets

• Colour Coated coils and sheets (profiled or unprofiled)

Any imports priced below these thresholds will attract the safeguard duty.