The global demand-supply imbalance of Ferrochrome in the international market will continue for another couple of quarters and only after that we can hope for a recovery, said Subhrakanta Panda, Managing Director and CEO of IMFA, one of India’s largest integrated producers of alloy.
IMFA has reported 19% fall in its Q3 revenue to INR 2.9226 billion on account of subdued international demand and closure of its Chrome mine at Sukinda (Odisha) from April to September. The company has to close down 4 furnaces, out of total 6, due to raw material scarcity. However, the situation has improved since October when the company resumed mining from its Sukinda mines. The Sukinda mines was closed due to lack of clearance from Odisha State Pollution Control Board (OSPCB).
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