TMT Iron and Steel Industry in India
India is a developing country and one of the major economies of the world where the Iron and Steel Industry plays a very crucial role. Manufacturing of steel and TMT steel bars is regarded as a major industry in its own right. It is in fact the cornerstone of modern industrial and civil development in our country. Large quantities of iron and steel items are needed for the construction of bridges, railway rolling stocks, rail tracts, vehicles, ships, airports, machines and power plants. Rapid growth of the industrial sector is necessary today for the advancement of Indian economy. Important industries such as ship building, railway locomotive and construction as well as heavy and light machineries depend heavily on the availability of the country’s iron and steel resources. Since iron and steel industry plays such a crucial role in industrialization, it can be said to be the backbone of all major industries.
Raw material deposits in the country
According to the statistics as taken on 2013, India ranks as the 4th largest producer of steel resources in the world, with crude steel productions of about 81.2 million metric tons. In India, raw materials for the Iron and Steel Industry includes iron ore, limestone, dolomite, fuels (coke, coal), silica, manganese, refractories, tungsten, nickel, and certain other substances. It is also a common practice to recycle scrap products in order to come up with new steel. The TMT bars that are produced from such raw materials can also fetch good TMT steel price from buyers.
Iron ores are present practically all over India. India was the 4th largest iron ore producing nation in the world. India also regularly exports steel to other parts of the world. The steel rate in India is lesser than in certain other parts of the world and of superior quality, due to which buyers in other countries prefer to invest in steel produced in India. India has also plenty of other mineral resources that are necessary to produce iron and steel products. For instance, about 1.5 tons of iron ore, 0.5 tons of limestone, 0.45 tons of coke around and 0.5 tons of nickel, manganese and dolomite are required for producing one ton of iron and steel, and these additional minerals are freely available in the country. The Steel Price Today is not only affordable for the buyers in India but also in various other countries.
The abundance of raw materials in India makes it a lot easier to produce iron and steel. The iron ores and various ancillary materials such as mica and manganese can be found in large quantities in different regions of India, such as Odisha, Jharkhand and Chotanagpur. There is also plenty of coking coal materials available that is used for steel manufacture.
Buying TMT bars in India
Such factors make TMT bars manufacturing quite easy in India. The TMT bars price is also well suited for industrial and civil development in our country. Since there are plenty of TMT bar manufacturers, it has also been possible to keep the rise of TMT bar price in check. To know about TMT bars price today, one can also visit numerous online sites that offer updated information about today steel rate.