Metal stocks, especially in steel and aluminum, faced a sharp decline after the United States announced a steep increase in import duties. On May 30, U.S. President Donald Trump declared that the tariff on imported steel will be raised to 50 percent, starting June 4. This move aims to protect American manufacturers but has caused concern among global exporters, including India.
The new decision builds on earlier tariffs first introduced in 2018, where steel imports faced a 25 percent duty and aluminum imports a 10 percent duty. The aluminum rate was raised to 25 percent in February 2025. The latest hike significantly increases pressure on foreign suppliers and could lead to reduced exports and profits.
In the fiscal year 2024-25, India exported iron, steel, and aluminium products worth a total of Rs. 380.5 billion ($4.56 billion) to the United States. This included Rs. 48.9 billion ($587.5 million) in raw iron and steel, Rs. 259.2 billion ($3.1 billion) in iron or steel articles, and Rs. 71.8 billion ($860 million) in aluminium and related items.
Following the announcement, Indian metal stocks reacted negatively, with several metal companies seeing their share prices drop sharply.
Here are some of the Steel stocks that were affected by the 50% import duty.
JSW Steel Limited
With a market capitalization of Rs. 239,189.85 crores, the shares of JSW Steel Limited has reached an intraday low of Rs. 969.50 per equity share, down nearly 2.45 percent from its previous day’s close price of Rs. 993.80. Since then, the stock has retreated and is currently trading at Rs. 978.10 per equity share.
JSW Steel Limited was founded in 1994 and is a leading Indian steel company making flat and long steel products for the construction, auto, and energy sectors. Its current total steel production capacity is 35.7 million tonnes per year in India and the US.
Tata Steel Limited
With a market capitalization of Rs. 198,861.24 crores, the share of Tata Steel Limited has reached an intraday low of Rs. 159.30 per equity share, down nearly 2.33 percent from its previous day’s close price of Rs. 161. Since then, the stock has retreated and is currently trading at Rs. 159.30 per equity share.
Tata Steel Limited was founded on August 26, 1907, and is one of India’s oldest and largest steel companies. It produces steel products for the construction, automotive, and engineering sectors. Its current steel production capacity is about 35 million tonnes per year
Jindal Steel & Power Limited
With a market capitalization of Rs. 96,158.60 crores, the share of Jindal Steel and Power Limited has reached an intraday low of Rs. 931.90 per equity share, down nearly 1.74 percent from its previous day’s close price of Rs. 948.45. Since then, the stock has retreated and is currently trading at Rs. 942.65 per equity share.
Jindal Steel & Power Limited (JSPL) was founded in 1979 and is a major Indian steel company producing TMT bars, plates, coils, beams, rails, and wire rods for construction, infrastructure, and engineering. Its current finished steel capacity is 15.6 million tonnes per year
Steel Authority of India Limited
With a market capitalization of Rs. 53,402.09 crores, the share of Steel Authority of India Limited has reached an intraday low of Rs. 126.40 per equity share, down nearly 2.13 percent from its previous day’s close price of Rs. 129.15. Since then, the stock has retreated and is currently trading at Rs. 129.30 per equity share.
Steel Authority of India Limited (SAIL) was incorporated on January 24, 1973, and is a leading government-owned steel company in India. SAIL makes a wide range of steel products for construction, engineering, railways, and defence. Its current crude steel production capacity is about 19.2 million tonnes per year
Written By – Nikhil Naik
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