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Significant growth in the automotive industry across India has brought the usage of Ferroalloys in the manufacturing of various automobile components to optimize fuel consumption and increase the overall efficiency of vehicles. Therefore, wide-spread utilization of Ferromanganese and Ferrochrome for the fabrication of stainless steel, Ferrosilicon used for the production of cast iron, which is further used for various industrial applications and Extensive infrastructural developments, are anticipated to drive the market towards growth.
The local ferroalloys market is expected to grow at a CAGR of around five percent during the period (2021-2026). Ferroalloys would continue to play a key role in scaling up steel production upto 300 mtpa by 2030 and therefore, in the development of the country. Contributing to this area, Astha Ferrotech manufactures Low Carbon and Medium Carbon Ferromanganese through Aluminothermic Process of Reduction.
While explaining the challenges faced while manufacturing the aforementioned products, lack of availability of major raw materials like Aluminum and Manganese Ore have forced manufacturers to import, due to availability of higher grades overseas. While manufacturing
certain grades of Ferroalloys, the expected recovery of the metal is also far-fetched. The biggest challenge faced by the company so far was the excessive usage of imported Mn metal by steel plants, which hampered its supply of Low Carbon Ferromanganese. Fluctuating prices of the major raw materials, especially while manufacturing Noble Alloys, increases the cost significantly. Also, stringent specifications set by the steel plants, especially on Silicon content, on-time payment from customers are other challenges.
All the suppliers take advance payment, whereas all clients work on credit payment basis, so there is shortage of working capital, hence monthly production quantity is stressed. However, they try their best to negotiate prices with their suppliers to get the best rate possible and also try to buy good quality raw materials, ensuring proper recovery of its finished product. Quality and Process Control also play a very important role in the Aluminothermy process.
Tarun K. Bhattacherjee, the Managing Director of Astha Ferrotech described the process as, Aluminum, when subjected to exothermic reaction can displace the metal less electropositive than it from the oxides of the metal. The objective of this process is to utilize the exothermic heat of the reaction for smelting purposes. The USP of this process is that it’s Carbon-Neutral and Future-Positive. They decided to ditch the electric-arc furnace in favor of this process that has a negligible carbon footprint, because they believe in sustainability of an eco-friendly future. Besides, this has helped them combat problems of inefficient power generation and distribution, thereby reducing cost of production and helping them retain the competitive advantage over time.
Good quality Ferroalloys lead to making the best steel for better future infrastructure, and we strive to grow
our business with the same enthusiasm
Astha Ferrotech believes that the ace player in this cut-throat market is the quality of material, maintaining the supply schedule by delivering the material on time. With a set of satisfied clients in India, the company seeks to expand its vision to consolidate its position in the international market. “We are planning a Pan-India presence and would be expanding our market by adding new products. We aspire to be a leading manufacturer of Ferroalloys in India. Good quality Ferroalloys lead to making the best steel for better future infrastructure, and we strive to grow our business with the same enthusiasm,” Tarun concludes.
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