Ferro Alloys production in India began around six decades back in 1950s through electric submerged arc furnace route. Initially, small furnaces were installed and only manganese alloys was produced. Lately, they also started producing Chromium Alloys which was the most important ingredient in the manufacturing of Iron and Steel.
The principal function of ferroalloy addition is that it increases the resistance of steel to corrosion and oxidation, improves its hardening ability, tensile strength at high temperatures, wear and abrasion resistance and increases its other properties like creep strength etc. FerroAlloys are generally used to impart engineering properties to steel. Ferro Alloys are vital input for producing all type of steel and are used as raw material in the production of special steels, alloy steels and stainless steel.
Ferro alloys industry is linked directly to the steel sector and thus has effect on economy of the country.
India’s total export of Ferro alloys in FY 13 was 1.66 MnT, whereas in FY 12 it was around 1.52 MnT. However, the 10% of increase was not satisfactory for the industry as the expectations were higher. The Indian Ferro alloys export industry is facing a tough competition from other countries like Ukraine, South Africa, Brazil and others due to their low prices in comparison to Indian Ferro alloys in the global market.