Indian government extends safeguard duty for steel imports in India – leading to rise in steel price from Jan – Mar 26

Indian government extends safeguard duty for steel imports in India – leading to rise in steel price from Jan – Mar 26   

Recently, the India Finance ministry announced to extend the safeguard duty on steel imports till April 2028, the present rates will be 12% and will reduce 0.5% annually till 11% in 2028. This will lead to price increase in the domestic market in India for Q4 for Financial Year 2026 that is from Jan to Mar 2026.

Here’s What India’s Steel Sector Needs to Know

Why Are Steel Prices Expected to Rise?

Despite steady domestic demand growth, the Indian steel market was under pricing pressure due to an oversupply of cheap steel from abroad, especially from China and South Korea.

The safeguard duty, has supported to reduce excessive imports.

Strong Domestic Consumption

Domestic steel demand in India remains strong. With ongoing infrastructure projects, expanding manufacturing activity and booming construction sectors, demand is expected to stay robust.

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