Tata Steel launches 2 new ferrolalloy products
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Steel major adds TATA FERROMAG and TATA TISCROME to its brand portfolio
T
ata Steel launched two new products — branded ferro manganese and ferro chrome for non-integrated steel and stainless steel makers in the country. Tata Steel launched two new products, TATA FERROMAG (branded Ferro Manganese) and TATA TISCROME (branded Ferro Chrome). The launch of new products coming from Tata Steel’s ferro alloys and minerals division will help Tata Steel to add to its host of branded products. Ferro chrome and ferro manganese are ferroalloys widely used as alloying agents in production of carbon and stainless steel. Ferro chrome provides corrosion resistance thus increasing the life of stainless steel, while ferro manganese provides the necessary toughness and hardness to steel. “The introduction of the two brands will ensure customers are able to reduce on the inventory holding, get guaranteed quality leading to minimal wastage of heat and customized sizes leading to easier handling of the material,” the company statement said. The products will be sold in branded 50 kg and 1 tonne HDPE bags which have tear proof labels ensuring bag wise traceability across the value chain. Tata Steel is targeting the market size of 300,000 tonne a year in India for both TATA TISCROME and TATA FERROMAG. In terms of market share, Tata Steel targets 38 per cent share in domestic market with TATA TISCROME in FY 15 while TATA FERROMAG is targeted at 10 per cent in FY 15. The two newly launched brands will be available across distribution centres in India. Tata Steel is rolling out the product in Gujarat, Maharashtra, NCR, Rajasthan, Odisha and West Bengal, which are the major consumption centres. n
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