Ferro Alloys

Growing trade tensions at global level pose a major threat for the domestic ferro alloys sector, which has raised production capacity over the years, apex industry body IFAPA said urging the government for its intervention. Ferro alloys like silico manganese and ferro chrome, etc, are used by steel makers as deoxidisers and alloying agents, to improve properties like hardness, strength, corrosion resistance, and wear resistance of the commodity. "The domestic ferro alloys industry has raised its productive capacity as well as export potential significantly over the years. However, weakening steel production globally, trade barriers and safeguards and upcoming carbon border taxes pose a major threat to exports, especially for India," Manish Sarda, Chairman, Indian Ferro Alloy Producers' Association (IFAPA) told PTI. India is the world's top exporter of manganese alloys and the third-largest supplier of ferro chrome, he said, adding that this threat or challenge, call it what you will

India, world's second-biggest producer of crude steel, has the capacity to make around 18 million to 20 million metric tonnes per annum of alloy steel, used in auto, defence and aerospace sectors

The company's strong focus on enhancing value by integrating steel manufacturing operations is expected to aid margins.

The acquisition will be completed within two months from the date of execution of the asset transfer agreement, the company said

Company's foray into ferro alloy business to strengthen its steel business portfolio

Ferro Alloys has four mines - two are operational, one is closed and another one has applied for renewal of lease