In the March quarter, Indian steel makers are anticipated to experience a substantial profit increase, largely due to a protectionist measure enacted in late December and seasonal demand. Analysts forecast that Steel Authority of India (SAIL) will see its profits triple compared to the December quarter. This growth is attributed to higher prices and increased volumes, which are expected to counterbalance rising coking coal costs. Average hot-rolled coil prices have surged by 12-15% sequentially, driven by a 12% safeguard duty that took effect in December. Despite a $15-20 per tonne rise in coking coal costs and a ₹100 per tonne increase in iron ore prices, operating profit is projected to rise by ₹2,000-3,000 per tonne due to a sequential volume growth of about 7%. Additionally, India's steel production rose by 10.4% to 146.8 million tonnes, with consumption increasing by 7.2% to 147 million tonnes. Notably, India has become a net exporter of steel, with exports increasing by 40% to 7.76 million tonnes.