Metal stocks surge up to 3% as India imposes 12% safeguard duty on steel imports for 200 days

The Indian government has imposed a 12% provisional safeguard duty on specific steel products for 200 days to address a surge in imports. This decision follows a recommendation by the Directorate General of Trade Remedies after a probe initiated by a complaint from the Indian Steel Association. The investigation revealed a significant increase in imports, potentially harming domestic steel producers.

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