India Steel Market Watch
December 17: Shares of Tata Steel rose 2.6%, JSW Steel gained 2.5% and Steel Authority of India rose 1.9% in early trade as the Ministry of Steel published a draft order on its website prohibiting production, sales and trading without the Bureau of Indian standards (BIS) approval.
The order covers most carbon steel products and is likely to be more effective than earlier measures in containing imports for the next 6-9 months because most of the steel mills exporting to India don't have BIS approval, industry analysts said.
The government had earlier slapped import duties on stainless steel to help local firms.