Industry warns of profit squeeze, seeks extended protection beyond safeguard duty.

Indian Steelmakers Push for Minimum Import Price as Global Slump Hits Margins.                                                                                                                           

Indian steelmakers are pressing the government to impose a minimum import price (MIP) as global steel prices remain depressed, eroding margins despite a 12% interim safeguard duty. The levy, due to expire next month, has not prevented benchmark hot rolled coil (HRC) prices from falling 10–15% below the ₹52,900 per tonne mark. Industry executives caution that leading producers are operating on wafer-thin profit margins of 2.1–2.3%, dipping in some quarters to just 0.3%. Without additional support, investments required to meet national steel output targets could be at risk. Analysts, however, stress the need for a balanced approach, noting that higher duties cannot ignore the impact on steel consumers. With global supply expected to outpace demand and raw material prices projected to stay flat, experts predict continued weakness in international markets. Industry players argue that an MIP would stabilise the domestic market, ensuring sustainability while shielding against cheap imports.