India steel giant Tata Steel has announced that it has launched India's first ferromanganese and ferrochrome brands, introducing two new products named Tata Ferromag and Tata Tiscrome.
Tata Steel is targeting a market size of 300,000 mt a year in India for both Tata Tiscrome and Tata Ferromag. In terms of market share, Tata Steel will be targeting a 38 percent share in the domestic market with Tata Tiscrome in the financial year 2014-15, while it is targeting a 10 percent market share with Tata Ferromag. The two newly launched brands will be available across distribution centers in India. Tata Steel is rolling out the product in Gujarat, Maharashtra, National Capital Region (NCR), Rajasthan, Odisha and West Bengal, which are the major consumption centers.
"These brands fulfill the long-felt market need of committed availability to customers along with product consistency and guaranteed chemistry, weight and size of alloy. Authorized distributors across the country will ensure that customers have the convenience of purchasing the product when they want it, how they want it and where they want it", said D B Sundara Ramam, executive-in-charge, Ferro Alloys & Minerals.
Ferrochrome and ferromanganese are ferroalloys widely used as alloying agents in production of carbon and stainless steel. Ferrochrome provides corrosion resistance, thus increasing the life of stainless steel, while ferromanganese provides the necessary toughness and hardness in steel.
