JSW, Tata Steel gain as India plans safeguard duty on imports
Steelmakers rallied Monday after India's trade watchdog proposed a phased three-year safeguard duty on flat steel imports, citing "serious injury" from cheap shipments, mainly from China. The duty would start at 12% in year one and ease to 11% by year three. While JSW, Tata Steel, and SAIL gained, policy experts warned of higher costs for auto and construction sectors.