New Delhi, June 12 -- Indian steel companies are likely to experience an uptrend in the first quarter of 2026 owing to the recently imposed 12 per cent safeguard duty on flat products in April, according to a recent report by JM Financial.

The Government of India had imposed a 12 per cent safeguard duty in April, with an aim to protect the domestic steel industry from a sudden and sharp increase in steel imports.

The government has set minimum import prices for five steel product categories ranging from USD 675 per tonne to USD 964 per tonne. Any shipment imported below these prices will attract a 12 per cent safeguard duty.

According to the report, "Indian steel companies are expected to witness margin expansion to the tune of approx....