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Leverage AI to develop a clear competitive positioning in the market ✌️【Investment Tools】✌️Start with ₹500 and earn steady, high returns every month!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.
Leverage AI to develop a clear competitive positioning in the market ✌️【Investment Tools】✌️Invest ₹500 and let blockchain-powered tools grow your wealth!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.
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Leverage AI to develop a clear competitive positioning in the market ✌️【Investment Tools】✌️₹500 to unlock the potential for massive monthly earnings. Join 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.
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