Sail, JSPL Under steel supplies rising to 3% as DGTR 3-year protection service suggests on imports

Tata Steel, JSW Steel, Sail and JSPL have seen their share prices in Monday’s trading session rise by up to 3%, as investors respond positively to the imposition of a steel import security. The Directorate General of Trade Rids (DGTR), in terms of the Ministry of Trade, on August 16, the final imposition of a security duty on the import of certain flat -steel products for three years recommended to protect domestic manufacturers from a sudden boom in incoming consignments. Duty security is aimed at protecting domestic producers DGTR, the Apex Authority, for the administration of all commercial law measures, including counter-dumping, counter-worked duties and protection measures, recommended a 12% duty in the second year, 11.5% in the second year. The recommendation follows the DGTR’s final findings of an investigation started on a complaint by the Indian Steel Association. Based on preliminary findings, the government has already imposed a preliminary security of 12% for 200 days in April. In its final report, DGTR concluded that there was a ‘recent, sudden, sharp and significant increase in the import of PUC (product considered) on India was at cumulative level due to unforeseen developments … and [these imports] threaten to cause the domestic industry/producers serious injuries. “The Indian Steel Association, which represents members, including ArcelorMittal Nippon Steel India, JSW Steel, Jindal Steel and Power, and Steel Authority of India, sought the duty to counteract the import of non-alloy and alloying plates. Quality control -Orders: This story is for educational purposes only.