Indian steel mills are likely to see a sharp drop in prices after U.S. import tariffs come into effect and reshape global trade of the alloy, potentially redirecting a glut of supply into the South Asian country,

Rows of small factories line the streets of a dusty suburb in Bengaluru, where workers weld and cast Indian-made steel into everything from car parts to kitchen sinks. Here, U.S. President Trump’s announcement to impose high trade tariffs on steel imports has some unexpected supporters.

Ministry of Steel in India adopts "wait-and-watch" policy to assess Trump Tariffs impact, considering safeguard duties.