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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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Robotics for Warehouse Automation ✌️【Part-Time Earnings】✌️Invest ₹500 and earn up to 100% returns every month. Start 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.

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

Robotics for Warehouse Automation ✌️【Part-Time Earnings】✌️Start with as little as ₹500. Safe and smart fund investments to grow your wealth.A safeguard duty will not have any impact on these shipments, a point that has been admitted by steel secretary Sandeep Poundrik.

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