MORGAN STANLEY VIEW ON STEEL
India Imposes Safeguard Duty On Select Steel Imports
Though Anticipated, Timing Is Still Uncertain, Specially Against Current Global Macro Landscape
Safeguard Duty Is A Positive Development As It Removes Multiple Months Of Overhang
May See Some Positive Stock Reaction Near-Term
Suggest It To Be Used To Trim Positioning In The Steel Names
Even After Imposition Of Safeguard Duty, Domestic Steel Trade At Nearly 5% Premium Vs Import Parity
See No Case For Domestic Steel Prices Uplift
India Imposes Safeguard Duty On Select Steel Imports
Though Anticipated, Timing Is Still Uncertain, Specially Against Current Global Macro Landscape
Safeguard Duty Is A Positive Development As It Removes Multiple Months Of Overhang
May See Some Positive Stock Reaction Near-Term
Suggest It To Be Used To Trim Positioning In The Steel Names
Even After Imposition Of Safeguard Duty, Domestic Steel Trade At Nearly 5% Premium Vs Import Parity
See No Case For Domestic Steel Prices Uplift
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