Tata Steel, JSW Steel, SAIL, Jindal Steel: Steel stocks rise in early deals; here's why

Shares of metal producers Tata Steel Ltd, JSW Steel Ltd, SAIL Ltd, Jindal Steel, among others rose up to 5% in early deals on Wednesday after the government announced the implementation of an anti-dumping duty on imports of non-alloy and alloy steel flat products for a period of three years starting April 21, 2025.

Tata Steel Ltd (3%), JSW Steel Ltd (4.5%), SAIL Ltd (2.30%), Jindal Steel (2.02%) and Jindal Stainless (3.46%) were among the top gainers on the BSE metal index in early deals today. 

Meanwhile, the BSE metal index surged 1.5% or 547 pts to 36,722 level in early deals.   

The duty is applicable to:

Hot Rolled Coils, sheets and plates

Hot Rolled Plate Mill PLates

Cold Rolled Coils And Sheets

Metallic Coated Steel Coils and Sheets and

Colour Coated coils and sheets, whether or not profiled

The duty will be levied at 12% when imports are made during the April 21, 2025 - April 20, 2026 period, fall to 11.5% for April 21, 2026 - April 20, 2027 period and then to 11% for the April 21, 2027 - April 20, 2028 period.