This Division largely undertakes import and export of carbon steel melting scrap, finished steel/coal/coke as also other nontraditional items like SKO, Naptha etc. The total volume of business in the fiscal 2010-2011 was around Rs. 5933.02 Crore, out of which Procurement of Imported materials is of Rs. 2580.77 Crore and Procurement of Indigenous materials is of 3352.25 Crore. MSTC with its network of 10 offices all over India, and its policy of operating on a very small margin is in a unique position to help international commodity traders, establishes a market and clientele on a long term basis. With its experience and expertise in foreign trade, it is also in a position to help Indian user of imported raw material to procure such material on a sustained basis with most economic prices. This group looks after sourcing, purchase and sales of industrial raw materials like HMS, LAM Coke, HR Coil, Naphtha etc on behalf of organizations like Essar Steels, Ispat Industries, HPL, DPL etc. both from international and domestic markets. In addition, a beginning has been made in export, first with castor oil and then with iron ore.
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MSTC (A Govt. of India Enterprise) - a Mini Ratna PSU under Ministry of Steel is India's one of the largest Trading Houses. It's import division imports Iron and Steel scrap, DRI, Coal, Coke, Non-Ferrous metals, Steel items, Pig Iron, Non Ferrous scrap etc.ITEMS OF TRADE
MSTC imports following industrial raw material as per international specifications:-
Customers who desire to import any new item apart from the above list of items can also contact MSTC and the proposal will be analysed objectively.
Imports of all Industrial Raw Materials and Finished and semi finished good are centralised at corporate office in Kolkata and the sales are effected through various regional and branch offices located all over India.
Imports are undertaken by MSTC against the firm advance indents of the prospective buyer(s) and/or accumulated demand of the item for a particular port.MSTC imports materials generally on CIF/C&F basis main Indian ports.
The purchase price is usually based on the L1 rate received against the Global Tender floated by MSTC from time to time. In case of Non-Ferrous materials the price is based on the LME cash settlement price plus premium.
The price obtained is intimated to the customer and the deal is finalised with the consent of the customer along with payment of mutually acceptable advance/ security Deposit by the customer to MSTC. The entire operation is based on actual costs plus a fixed MARK-UP charged by MSTC and on back to back basis.
In case, the customer themselves have good offer or have any long-term contract with the foreign supplier, but desires to route the same through MSTC for financial arrangements, the same may also considered based on the merit of the case.
MSTC sources various materials from reputed producers and traders of each item. MSTC has connections with may foreign suppliers. In the international market, MSTC enjoys a place of repute and is highly regarded as a bonafide purchaser of Scrap and industrial raw materials.
MSTC imports quality material conforming to international specifications viz. ISRI, ASTM etc. Most Customers of MSTC are institutional buyers who have stringent quality norms for accepting the raw materials. Quality Certificate from independent inspection agency of repute like SGS, Alex Stewart etc regarding quality and quantity is essentially a part of MSTC's purchase contract.
Customers have the following options for purchase:
The details of the above modes of sale will be explained at the time of entering the MOA with the customer.
If required, MSTC imports metals with split Bill of Lading to cater to the need of small customers who want to buy on high-seas basis.
MSTC is quite flexible in various terms & conditions. Any constructive proposal from the buyer is analyzed objectively in the interest of growth of business.
Cash and Carry Facility: In case of bulk purchase, MSTC also provides an unique facility of cash and carry in which case certain formalities need to be observed till the material is ultimately lifted on piecemeal basis on payment to MSTC. Thus the customer remains sure of the inventory without 100% cash/L/c limit blockage and is a relief on the customer's working capital requirement. However this facility is given only for customers whose credential is acceptable to MSTC.
Market Information:Support services in the form of market intelligence are always provided to the customers.
High credibility: MSTC has always lived up to its commitments because of which it have a very high credibility among the international suppliers.
Professionally Trained Manpower: An expert team of professionals with a dedicated product portfolio handles MSTC's import.
Usance L/C : MSTC can establish usance L/c with LIBOR based interest rate prevailing in the International market for 90 to 120 days.
Turnover based discount : Special incentives in the form of discounts in the mark-up are also given to regular customers based on yearly turnover of business through MSTC.
STEP 1: Producers/Actual users desiring to import through MSTC any particular item may please apply to MSTC with the information/documents as mentioned in Annexure 1.
Step 2: The proposal of the customer will be objectively studied by MSTC officials. In case the proposal is accepted the customer will be called for signing of Memorandum of Agreement for import, which will contain detail mode of operation.
Step 3: After signing of the agreement the import will undertaken based on the indent of the customer and other terms of the MOA.
In case any further information is required, please contact Corporate Office at Kolkata and/or Regional and Branch Offices.
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Last updated on: October 23, 2017
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