Online portal brings cheer to ailing Punjab steel industry

The domestic steel manufacturing industry, which witnessed shutdown of over 100 units in Mandi Gobindgarh and Ludhiana in the last three years, is now hoping to revive with the Metal Scrap Trade Corporation (MSTC) introducing an online shopping portal ‘MSTC Metal Mandi’ for selling and purchasing iron and steel scrap at one platform on Thursday.

MSTC chairman-cum-managing director BB Singh said, “Existing online portals of steel firms have limited reach in Punjab but with metal mandi in place, the steel manufacturer in the state will get connected to more than 50,000 clients all over the world.”

He added that the buyers can view finished goods and raw material online. They can check product specifications and quality and place orders as per their requirements in a hassle-free manner.

He said, “Being a government enterprise, MSTC registers only credible firms and ensuring security while conducting transactions is our utmost priority.”

The metal mandi concept will bring all sellers and buyers on a common platform for conducting transactions of bulk raw material, semi-finished goods and finished goods. The portal provides one-stop shop for sellers and buyers for making most informed decision for the purchase by online payment and taking delivery with MSTC’s logistics, added Singh.

Induction Furnace Association North India president KK Agarwal said that it is a unique platform for selling and buying experience of bulk material and offers credible, hassle-free and time efficient business transaction along with cost effectiveness. In future the product range will be increased to cater to the needs of buyers for various products in metal sector.

The domestic steel and sponge iron manufacturers appreciated the move and said that it will have a positive effect on the ailing steel industry in the state, they also made some suggestions to improve efficacy of the online portal.