Steel: Everything You Should Know Before Buying

India produced 118.2 million tonnes of steel in the year 2021 to bag the second position in the steel manufacturing country list as reported by one of the leading newspapers. The National Steel Policy, published in 2017, intends to increase India’s steel manufacturing capacity to 300 MT by 2030. It has a long-term goal of increasing internal demand, producing high-quality steel, and making the steel industry more competitive globally.

In such times, with a rampant increase in the production of steel in the country and a stiff competition from China, it is important to make the right choice while purchasing steel. This guide will help you know everything about steel, before you buy it.

The Indian steel sector is groundbreaking, with innovative steel mills. It has always aimed to keep older facilities up to date and upgrade them to better energy efficiency levels.

TYPES OF STEEL

• CARBON STEEL — Carbon steel has a drab, matte appearance and is corrosive. The name originates from the fact that they only have a minimal amount of other alloying elements in them. They are extremely robust, which is why knives, high-tension wires, automobile parts, and other such objects are frequently made from them.

Depending on how much carbon is present in the metal, carbon steel is divided into three main subgroups:

low carbon steels (or mild steels):

medium carbon steels (0.3–0.6 percent carbon),:

and high carbon steels (more than 0.6 percent carbon).

• ALLOY STEEL — The next type of steel is alloy steel, which comprises a variety of metals such as nickel, copper, and aluminium. These are preferred for some automobile parts, pipelines, ship hulls, and mechanical projects since they are less expensive and more corrosion resistant. Pipelines, vehicle parts, transformers, power generators, and electric motors are a few examples of the applications for alloy steel. The strength of this one is determined by the concentration of the elements it contains.
• STAINLESS STEEL — Stainless steel is undoubtedly the most well-known variety in the market. This type is gleaming and has a chromium content of 10 to 20%, which is the principal alloying element. This combination permits the steel to be corrosion resistant and easily moulded into a variety of shapes.

Also Read:- TMT Bars: Everything you should know before buying it

Stainless steel can be found in medical equipment, household applications, silverware, and even as exterior cladding for commercial/industrial structures because of its ease of manipulation, flexibility, and quality.

Based on their crystalline structure, these steels can be categorized into three groups:

1. Austenitic: Austenitic steels typically contain 18% chromium, 8% nickel, and less than 0.8% carbon. They are non-magnetic and heat-treatable. Austenitic steels make up most of the stainless steel market worldwide and are frequently used in pipelines, cooking utensils, and equipment for processing food.
2. Ferritic: Ferritic steels include various alloying elements like molybdenum, aluminium, or titanium along with trace levels of nickel, 12–17 percent chromium, and less than 0.1 percent carbon. Although these magnetic steels cannot be strengthened by cold working, they can be toughened by heat treatment.
3. Martensitic: Martensitic steels have a chromium content of 11–17%, a nickel content of 0.4%, and a carbon content of 1.2%. Knives and other cutting tools are made from these magnetic and heat-treatable steels.

TOOL STEEL

Tool steel is perfect for cutting and drilling equipment because it contains tungsten, molybdenum, cobalt, and vanadium in various amounts to promote heat resistance and durability.

Shapes and related applications are another way to categorize steel products:

1. Products that are long or tubular include bars, rods, wires, angles, pipes, and forms and sections. The construction and automotive industries both frequently employ these products.
2. Plates, sheets, coils, and strips are examples of flat products. These materials are mostly used in construction, packing, shipbuilding, appliances, and automobile parts.
3. Other Products, which are mostly used as piping materials, include valves, fittings, and flanges.

STEEL PRICE DETERMINANTS

The steel price is determined primarily by the diameter or sizes and grades that are used in the infrastructure and manufacturing business. For instance, steel rod diameter varies from 8 mm to 25 mm. The steel price as the diameter of the steel rod increases, i.e. 25 mm steel rod would cost more than 20 mm steel rods. There are also other factors that affect the steel prices the unbalanced rate of demand and supply of steel, cost of raw material, and the logistics cost. If the demand is strong and steel supply gets tightened due to external factors like market volatility or change in government policy , prices of coking coal and iron ore surges. This elevates the steel prices and increases the overall production cost.

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