In the future, China’s ferroalloy industry should prioritize shifting its development approach, controlling overall production volume, phasing out outdated capacities, and enhancing the general equipment standards. It is essential to optimize industrial layouts and resource distribution while increasing industrial concentration. Additionally, adopting a "go global" strategy will help boost international competitiveness and ensure sustainable growth for the industry.
Efforts must be made to aggressively phase out outdated facilities and strictly manage new construction projects. Presently, a significant portion of China’s ferroalloy production equipment—around 6300 dry volt-amperes and below—requires upgrading. It is crucial to eliminate outdated capacities, control new projects, and elevate the technological and equipment standards across the board.
Given the severe overcapacity issue within the ferroalloy sector, relevant government departments need to address this through both macroeconomic regulation and detailed oversight. New iron-alloy ventures must undergo rigorous scrutiny to control total output and prevent redundant, low-level constructions.
Resource and energy allocation should be optimized, and a circular economy should be promoted. Key steps include effectively utilizing manganese and chrome ores to improve resource efficiency, enriching and dephosphorizing manganese ores, preheating and pre-reducing ores, and employing sintering and pelletizing techniques. Additionally, balancing domestic lean ores with imported rich ores can enhance furnace feedstock grades. Recycling gases, slags, and dust from semi-closed and fully enclosed electric furnaces is another priority. Leveraging upstream industries like coal and electricity can create integrated “coal, electricity, and metallurgy†conglomerates to foster a circular economy.
Regional strengths should be capitalized upon to form large corporate groups and boost industrial concentration. For China to become a dominant player in the ferroalloy market, it must consolidate operations and establish large-scale, high-quality industrial clusters. Existing major enterprises should pursue mergers and acquisitions to expand their scale. Encouragement should also be given to strong enterprises to engage in cross-border and cross-industry consolidations to create vertically integrated groups. Regional industrial parks should be standardized, fostering local alliances and encouraging centralized, large-scale development.
Recent years have seen some consolidation efforts by Sinosteel, CITIC, Minmetals, and Sichuan Investment Co., Ltd., but progress remains slow. In line with the steel industry's revitalization plan, strengthening and expanding the ferroalloy sector is imperative.
Adopting an outward-looking strategy is vital for securing resources and ensuring industrial safety. While China is a major producer of ferroalloys, it is also a leading consumer. Despite export restrictions, China’s ferroalloy industry still holds substantial sway internationally. Thus, it is advisable to encourage qualified producers, traders, and miners to collaborate in optimizing resource distribution, achieving mutual benefits, and fostering collective growth.
In summary, following global trends in the steel industry, which emphasize globalization and circular economies, the ferroalloy sector must adapt by refining its product mix, transitioning from quantity to quality, and prioritizing resource and environmental conservation. Striving for balanced industrial growth alongside environmental sustainability will pave the way for a prosperous future.
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