[Ferro-Alloys.com] 

Indian Ferrochrome Market: A Growing Industry with Promising Opportunities

Indian Metals & Ferro Alloys Ltd (IMFA) recently reported its financial results for the quarter and nine months ended on December 31, 2024.  The company’s Q3 FY24 net profit surged 934.23% year-on-year (YoY) to Rs 107.87 crore, highlighting a significant growth in its performance.  The revenue for the same period reached Rs 685.27 crore, indicating a positive trajectory for IMFA.

IMFA’s Chief Financial Officer, Prem Khandelwal explained that the Indian ferrochrome market, currently at 1.3 million tonnes (MT), is expected to witness a steady growth of 6 to 7% year over year.  This growth will be primarily driven by the rising demand for stainless steel, especially in the building, architecture, and construction (ABC) sector.

To meet the growing domestic demand, the Indian ferrochrome sector is taking strategic actions. Firstly, it aims to increase the production of stainless steel. Furthermore, the sector is actively pursuing capacity expansion to tap into future market potential.

On a global scale, India ranks fourth in terms of ferrochrome production. The worldwide production stands at around 15 million tonnes, with China leading the pack at 7 million tonnes while India produces 1.2 million tonnes.

In conclusion, the Indian ferrochrome market is a promising industry with immense growth opportunities. With strategic actions to boost production capacity, reorient export focus, and adopt technological advancements, the sector is poised for a bright future.

• [Editor:邢亚敏]