Alloys are crucial intermediates to the steel industry. Alloying steel is made to impart certain properties like corrosion resistance, improving hardenability, abrasion resistance etc., A segment called noble alloys are also made by adding small quantities of metals like vanadium, molybdenum, Tungsten, Zirconium, Titanium, Boron, Tantalum, Magnesium and Silicon for certain desired properties. Currently, the Indian market for alloys is estimated at 5.5 million tpa. Late in 2009, the largest producer China has started importing ferro alloys has made ferro alloy production in India profitable and lead to increase in capacities.
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