In the coming years, China’s ferroalloy sector must prioritize shifting its development model, curbing overall growth, phasing out outdated production methods, and enhancing equipment standards across the board. Optimizing industrial layouts and resource distribution while boosting industry consolidation will also be critical. By embracing an "outward-looking" strategy, the industry can boost global competitiveness and ensure long-term sustainability.
A key focus should be aggressively phasing out obsolete capacities and strictly limiting new ventures. Currently, a significant portion of China’s ferroalloy facilities rely on outdated technology, particularly those below 6300 kVA. Addressing this requires systemic upgrades to processes and equipment, fostering an industry-wide shift towards modernization.
The severe overcapacity plaguing the ferroalloy industry demands intervention at both macro and micro levels. State authorities need to rigorously review and approve new projects while ensuring the total output remains within manageable limits. This will help prevent redundant investments and wasteful duplication.
Resource and energy efficiency must also be prioritized through the promotion of a circular economy. Effective strategies include enhancing the use of manganese and chrome ores, optimizing ore blending ratios, and maximizing energy consumption and recovery rates. Additionally, comprehensive utilization of by-products like slag and gas from closed electric furnaces should be encouraged. Leveraging synergies within the coal-electricity-metallurgy value chain could further drive sustainable practices.
To strengthen the industry, regional advantages must be harnessed to create large enterprise conglomerates. Achieving economies of scale and consolidating operations will help build robust, competitive groups capable of delivering high-quality products. Encouraging mergers and acquisitions among leading firms, standardizing industrial parks, and fostering alliances within regions are essential steps toward greater industrial centralization.
Despite recent efforts by companies such as Sinosteel, CITIC, Minmetals, and Sichuan Investment to consolidate smaller entities, progress remains modest. Accelerating these efforts aligns with broader plans to revitalize the steel industry and expand the ferroalloy sector.
Adopting an "outward-bound" strategy is equally important. As both a major producer and consumer of ferroalloys, China’s role in the global market is substantial. Even with export restrictions, China meets significant domestic demand while maintaining influence abroad. Thus, promoting collaboration between producers, traders, and miners—under rational resource exploitation policies—is crucial for securing supplies and ensuring long-term stability.
Looking ahead, the global steel industry is increasingly characterized by globalization and cyclical adjustments. Embracing circular economic models and collaborative restructuring is vital. China’s ferroalloy industry must align with these trends, focusing on upgrading product portfolios, improving quality over quantity, and balancing growth with environmental considerations. By pursuing these goals, the industry can chart a course toward balanced, eco-friendly, and resilient development.
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