India Steel Market Watch
November 13: With a focused and progressive market development strategy, it is possible for India to improve its market share and tap new chrome ore markets, according to industry body Federation of Indian Mineral Industries (FIMI).
Being the third largest producer (with 18% share) and second largest exporter of chrome ore in the world, India historically has been an important player in the global market, though not on the same scale as South Africa, Kazakh and Turkish producers, the industry body said.
The dynamics of the world chrome ore market are changing. More and more of South African production is being consumed by its ferro alloy industry. Demand is growing rapidly in the Far East too. Shortages are occurring in supplies of Turkish and Kazakh ore.
“With a focused and progressive market development strategy it is possible for India to improve its market share and tap new markets. India’s export of chrome ores has been reduced from US$56 million in 2013-14 to US$53 million in 2014-2015,” the industry body added.