Mandi Steel Rates
Mandi Gobindgarh falls in Fatehgarh Sahib District, Punjab. It is also known as Loha Mandi due to a large number of steel factories present over there. Mandi steel is used to produce goods in the housing sector, roads, bridges, highways, and ports. The secondary steel sector of India fulfills about 58% of the total steel consumption needs of the country and Mandi steel rates are of importance as Mandi fulfills 25% of these total demands for steel. Mandi has 200 plus steel rolling factories and around 50 induction furnaces that produce the raw material for these rolling mills. There are 12 forging units, 40 foundry units, 90 scrap cutting units and 12 oxygen units that cater to various requirements within the steel rolling factories. Apart from the steel rolling mills, Mandi also has about 70 industrial plants that produce steel related goods and material.
History of Mandi Gobindgarh Steel
Guru Hargobind Sahib, the sixth Sikh guru had stayed in Mandi for 40 days in 1646. He and his followers had a fight with Mughals during which their weapons were damaged. The followers then pleaded with the Guru that they can no longer fight as there was not enough steel to repair or create new swords. To which the Guru replied that Mandi would one day emerge as one of the biggest steel producing towns in India. Infact, the area was then renamed as Gobindgarh after the Sikh Guru. In 1902, industries started coming up in Mandi Gobindgarh and in 1928 Mandi was declared a special economic zone for steel.
Steel Industry in Mandi
Mandi Gobindgarh was declared a free trade zone for steel in 1928 and by 1940 lot of steel units sprung up in the town. Owing to the history and abundant supply of steel, Mandi steel has always been considered good quality steel. The steel industry in Mandi employs thousands of local people and migrant populations from Delhi, Uttar Pradesh and Bihar. Government of India initiatives like Make in India and Housing for All have benefitted the steel sector. The demand for steel has gone up due to these initiatives and Mandi steel trading has become profitable for investors provided they know exactly when and what to buy and what stocks to hold onto.
Mandi Steel Rates & Prices
Due to the positive forecast for steel and overall growth of the steel sector, Mandi steel trading can reap great benefits for investors. Investors looking to make informed decisions on Mandi steel rates, loha trading, and Mandi iron rates can visit Bigbits.in or subscribe to the Bigbits Rate Tracker. Bigbits provides daily updates on steel prices and loha rates that let investors analyze and understand the trends for Mandi steel rates. The steel industry fuels the housing, road and highway sectors of India. As India progresses towards rapid growth in these sectors, investors can gain huge profits from steel.