MSTC Limited is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India. The company was set up in September 1964 to act as a regulating authority for export of ferrous scrap with an investment of Rs 6 lakh. Government of India, Members of Steel Arc Furnace Association and members of ISSAI had made with the investment.
MSTC became a subsidiary of SAIL in 1974. In 1982, it got delinked from SAIL and became an independent company under Ministry of Steel. It was a canalizing agency for import of ferrous scrap till 1992
MSTC Limited has endeavored to become one of the stalwarts of the nation's steel industry. The Marketing Division looks after the bulk procurement of industrial raw materials for its Principals. The sourcing is done either from foreign manufacturers / traders or from domestic producers.
The list of items that are procured includes HMS, HR Coil, Billets, Wire Rods, LAM Coke, Coking coal, Naphtha, Crude oil, Thermal coal etc which are mainly consumed by the steel, petroleum and power industries in the country
MSTC has emerged as a major player in the country for promoting e-commerce. It has presented with e-Auction portal namely, www.mstcecommerce.com which has become a popular tool for transacting business over the internet. The portal provides a virtual marketplace for domestic sellers and buyers to do business in metal scrap (ferrous/non-ferrous), surplus stores, machineries, obsolete spares, vehicles, minerals and agriculture & forest produce etc. The methodology adopted includes open tender, public auction and e-auction