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Date: 13/01/2025

Safeguard duty on steel imports seen leading to steep price hike in 2025, says CRISIL
 
Steel prices in 2025 would be much higher than the last year if the proposed safeguard duty on steel imports is imposed by the end of next month, said rating agency CRISIL. It further said that domestic steel demand will continue to outpace other major steel-consuming economies in the current year with a growth of 8-9% due to a shift towards steel-intensive construction in the housing and infrastructure sectors along with better demand from engineering, packaging and other segments. In 2024, global steel demand is estimated to have declined by 1%. Demand in China, the largest steel producer and consumer, declined 3.5%, led by falling steel demand from the real estate sector, despite conducive policy changes and the release of support packages, as per a report.
 
Source: Exim News Service: New Delhi, Jan. 12



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