Rourkela Steel Rates

Rourkela is a town in Odisha and the home of India’s first public sector owned steel plant. The Rourkela Steel Plant produces many special steel products that are used in making LPG cylinders, railway coaches, railway engine chassis, power sector products, automotive products, oil and gas pipelines and even defence equipment. INS Vikrant of the Indian Navy was also made with Rourkela steel. The steel plant has been known for its high density steel and has been a pioneer in India with the kind of products being produced for the first time indigenously.

History of Rourkela Steel

Rourkela is the third biggest city in Odisha and is known as the Steel City or Ispat Nagar. Ispat is basically steel in Hindi. The city of Rourkela is rich in minerals and iron ore and was chosen to be the site for India’s first public sector steel plant in the late 1950s. The Rourkela Steel Plant, the biggest steel plant operated by Steel Authority of India Limited (SAIL) was set-up with collaboration with several European companies like Mannesmann, Krupp, Demag, Siemens and Voestalpine. The engineers from these companies came down to India and helped with the set-up and training of the plant in the 1950s and 60s. The Rourkela Steel Plant was the first ever steel plant in Asia to use the Linz Donawitz (LD) process of making steel. It is also the only steel plant that currently produces 100% of steel slabs through continuous casting process that is not only economical but also high in quality.

Rourkela Steel Rates

The Rourkela Steel Plant has had many firsts and still continues to produce many products that power other industries of India. For instance, the plant produces silicone steel that is used for the power sector in India and high density steel products that are used in the oil and gas sector. Rourkela steel products have high quality and power many special industries in India like defence. The Rourkela steel prices and steel trading can reap gains for seasoned investors who like to trade in the commodity markets.

Rourkela Steel Trading

Steel like other commodities is a volatile product to trade. Only investors with high risk appetite can think of trading steel. However, because the trading is high risk, it reaps high dividends. Investors stand to reap large cash gains if they make their investments after proper knowledge of Rourkela steel prices & rates. Investors can get this information here about Rourkela iron prices and steel rates by subscribing to our steel tracker called the Bigbits Rate Tracker. The Bigbits Rate Tracker comes at an annual subscription of INR 3,000 and sends customers valuable and daily updates on Rourkela steel rates via SMS.

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