Indian Steel Prices Rise Twice in January Following Import Safeguard Duty

Domestic steelmakers in India have raised steel prices twice in January following the government's imposition of a three-year safeguard duty on steel imports. Prices of hot-rolled coil and rebars increased by Rs 500-7,000 per tonne amid stronger construction demand, low inventories, rising input costs, and increased exports. Industry experts note that these hikes may improve producer margins, affect infrastructure project costs, and influence steel stock performance, with Tata Steel and JSW Steel among top gainers this year.