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Get To Know About The Ferro Alloy Market In India
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Ferro alloy refers to the alloys of iron, which have a high proportion of one or more elements like aluminum, silicon or manganese. Ferro alloys are very much used in the heavy industries for the manufacture of steel. They are essential additives required to be added in the production of steel in order to impart specific properties to the steel and for re-oxidation of finished steel. They also control the grain size of the steel and play a major role in enhancing and improving the mechanical properties of the steel.
The main factors that determine the demand concentration for certain kinds of Ferro alloys are: the product quality, which is sought to be achieved by the manufacturer and the process and infrastructure, used for the manufacture. The interesting part of Ferro alloys is that though they play a crucial role in the manufacture of steel making, the alloy consists of less than one percent of the total raw materials used in steel making. Hence, it has huge demands.
The Ferro alloy market in India
Ferro alloys market in India is almost six decades old. In the late 1950s electric submerged arc furnace route were used for bulk production by Ferro alloy manufacturers in India. In the initial years, the industry for Ferro alloys was marked by the small capacity furnaces, which were installed for the production of manganese alloys in Indian industries like Bhadravati and VISL. By the mid –sixties total of 18 furnaces were installed in order to cater to the demands of the domestic steel industry.
The industry later expanded in the sixties and seventies where 13 furnaces were added for the production of silicon and chromium alloys, which were used as an important ingredient for the manufacture of stainless steel and alloys in India.
The advancement of technology, Government encouragement, and product diversification prompted towards the expansion of Ferro alloys market in India in the 80s. The Government introduced incentives for plants, which were 100% export oriented. This helped to Indian markets to gear up for high foreign exchange.
The steady growth of the Ferro alloy industry lost its momentum in the beginning of the 1990s and further decelerated in 1997-1998,triggered by over all recession in the steel industry. This led to the scaling down of prices of Ferro alloys. In addition, there was an increased demand of ores in China, which led to rise in price of ores. There was an increase in production cost due to withdrawal of concessional tariffs in certain areas. This resulted in the closure of many Ferro allows plants in the country.
In 2002, the demand of steel rose up which is why the Ferro alloys market started improving. States of West Bengal, Orissa and Andhra Pradesh witnessed new industries for the production of manganese and chrome alloys.
Presently, the in India is primarily an export-oriented industry. Ferro Alloys Manufacturer India records for an export of USD 870 million in the year 2009-10. The ports of Kolkata, Haldia and Vishakhapatnam are the main ports for export for the Ferro Alloys Exporter India.
Bilal Muktinathn, a Ferro Alloys Exporter Kolkata is also renowned name in the business of Ferro alloys in India. According this industry is going to be very promising.
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