Since its inception in 1964, under the administrative control of the Ministry of Steel, MSTC Limited has endeavored to become one of the stalwarts of the nation's steel industry. Today it stands as a Mini Ratna Category-I PSU.
Till 1991 MSTC was the canalizing agency of Government of India for import of scrap and ship for Ships for breaking. After decanalization, MSTC established itself as a major player in importing bulk raw material for various industries. It has emerged as the only Public Sector Company in India dealing in e-Commerce.
Improving electronic commerce in India
Of late, MSTC has emerged as a major player in the country for promoting e-commerce. It has presented with e-Auction portal namely, www.mstcecommerce.com which has become an immensely popular tool for transacting business over the internet in a most transparent and fair manner. The portal provides a virtual marketplace for domestic sellers and buyers to do business in metal scrap (ferrous/non-ferrous), surplus stores, machineries, obsolete spares, vehicles, minerals and agriculture & forest produce etc. The methodology adopted includes open tender, public auction and e-auction.
MSTC has recently developed an e-Procurement portal and is ready with end-to-end e-Procurement services.
Procurement of Raw Materials:
The Marketing Division looks after the bulk procurement of industrial raw materials for its Principals. The sourcing is done either from foreign manufacturers / traders or from domestic producers.
The list of items that are procured includes HMS, HR Coil, Billets, Wire Rods, LAM Coke, Coking coal, Naphtha, Crude oil, Thermal coal etc which are mainly consumed by the steel, petroleum and power industries in the country.
Initiatives:
The new initiatives by MSTC reflect our strong confidence in, and deep commitment to, investments in various new ventures, as well as our ability to develop constructive partnerships with national, international, regional and local authorities.
1. e-Commerce in Agricultural and Forest products like tobacco, tendu leaf, timber, etc.
2. e-Commerce in Mineral products like Iron Ore, imported thermal coal, chrome, manganese ore etc.
3. Auto-Shredding Plant for supply of Shredded Scrap to various secondary steel industries in India.