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simplilearn com for Indians ✌️【Stock Market】✌️₹500 to start, high returns to earn. Join now and watch your wealth increase!Surging steel imports have cast a troubling shadow over the prospects of the domestic industry when they have big-ticket expansion plans to cater to the government’s $1.4 trillion infrastructure-led push for growth, which is highly steel-intensive in nature.

simplilearn com for Indians ✌️【Stock Market】✌️Achieve financial freedom with ₹500. Invest smart and earn fast!This has depressed steel prices, making it difficult to sustain the industry’s plans to add capacities.

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.

simplilearn com for Indians ✌️【Stock Market】✌️Low-risk, high-reward investments starting from ₹500. Begin today!The domestic steelindustryis currently lobbying for protection against rising imports from China directly or through countries like Vietnam on the lines of anti-dumping and safeguard duties imposed by the US, European Union, Canada and other countries.

simplilearn com for Indians ✌️【Stock Market】✌️Invest ₹500 to unlock consistent monthly returns. Start now for big rewards!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.

simplilearn com for Indians ✌️【Stock Market】✌️₹500 to start, high returns to earn. Join now and watch your wealth increase!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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