New Delhi: Steel stocks were in the limelight on Wednesday, with JSW Steel climbing nearly 5 per cent, after the government extended safeguard duties on imports of certain steel products for three years, aiming to curb dumping from countries like China and protect domestic manufacturers from a supply glut.Shares of JSW Steel jumped 4.89 per cent, SAIL surged 4.18 per cent, Jindal Steel climbed 2.75 per cent, Tata Steel went up by 2.45 per cent, APL Apollo Tubes (1.48 per cent), and Jindal Stainless (0.15 per cent) on the BSE. Following the rally in these stocks, the BSE metal index jumped 1.51 per cent to 36,811.73.

"The rally was led by steel stocks after the government imposed a three-year safeguard duty of up to 12 per cent on select steel imports, raising expectations of improved pricing power and profitability for domestic producers. JSW Steel surged up to 5 per cent, driving gains across the metal space," Gaurav Garg, Research Analyst, Lemonn Markets Desk, said. The duties, first imposed as a temporary 12 per cent levy for 200 days in April, will now remain in force until April 2028, according to an official notification.