Team News Riveting
New Delhi, September 22
The Indian Ferroalloys and Producers’ Association (IFAPA) hosted the 4th International Ferro Alloys Conference, featuring 10 insightful sessions with contributions from over 30 speakers and attended by 550 delegates.
The event was honoured by the presence of Chief Guest, H D Kumaraswamy, Union Minister of Steel and Heavy Industries, Government of India.
“Ferro alloys are essential to the Indian steel industry, significantly contributing to both domestic consumption and foreign exchange earnings. However, the industry is currently facing challenges such as high power tariffs, limited supply of domestic ore and limited supply of quality coke for the ferroalloys industry,” said the minister in the inaugural session. “The Steel Ministry is aware of these issues and is committed to taking timely measures to support the ferro alloys sector,” the minister assured.
Speaking on the occasion, Manish Sarda, Chairman, IFAPA, said, “India is the largest exporter of manganese alloys and the third-largest exporter of ferrochrome. However, the industry’s global standing and foreign exchange generation potential is constrained due to high domestic power prices compared to other exporting geographies, tariffs on key imports, etc. For instance, the current basic customs duty of 2.5% on manganese ore imports should be removed in view of low availability of high-grade ore in India.” Sarda expressed optimism that the Steel Ministry will help the industry steer through these roadblocks in its growth journey.
Delivering his address on the occasion, A.K. Saxena, CMD of Manganese Ore India Ltd. (MOIL), said that the PSU miner has its task cut out in ensuring raw material self-reliance of the domestic industry.
“MOIL’s production is over 50 per cent of domestic production but in terms of consumption it is much lower. MOIL is increasing mining capacity in a major way to augment domestic raw material self-sufficiency.
In FY’24, India’s production of manganese alloys (ferro and silico manganese) stood at 3.5 mnt out of which total exports were 1.8 mnt. Out of total production of chrome alloys of 1.5 mnt, export shipments stood at 0.75 mmt. Total ferroalloys production was 5.2 mnt in the bygone fiscal out of which the export volume was 2.6 mnt.
IFAPA, the apex body of the domestic ferroalloys industry, acts as a bridge between the industry and the policy establishment. Established in 1961, it has around 85 members. BigMint is the Knowledge and Media Partner of the 4th International Ferroalloys Conference which features an array of technical sessions on steel and stainless steel, ore and alloys, power, coke and technology, as well as decarbonisation of ferrous metallurgy and the ferroalloys sector in India.
