Presentation titled "Chrome Business India – China Yesterday, Today and Tomorrow" seeks to explore the changing relationship between two Asian giants in face of a over 25% growth in SS production in China which propelled it to the #1 producer of stainless steel in the world and pressures posed by India\'s own impressive double digit growth in SS Production.

1. Chrome Business India – China Yesterday, Today & Tomorrow Presented at “Chromium 2009” Conference of the International Chromium Development Institute

2. This presentation is an amalgamation of authors’ own views and thoughts. Tata Steel or IFAPA do not necessarily subscribe to the views and thoughts expressed in the presentation and should not be held responsible for the same.

4. Chrome Industry – India & China

6. Chromite mines in India

8. NBFA, Dhenkanal FACOR, Garividi TBAPL,Raigarh Production Unit FACOR, Randia FAP, Bamnipal FeCr Production in India Rawmet Jindal Stainless Sri Vasavi Steel Rohit Ferro Tech Balasore Alloys IMFA Visa Steel, KalingaNagar

10. Ambika Steel Rathi Steel & Power Rimjhim Steel Jindal Stainless Shah Alloys Chandan Steel Viraj Alloys Mukand Ltd Panchmahal Steel Stainless Steel Production in India

13. Production bases of Chrome Ore and High Carbon Ferro Chrome in China Chrome Ore Chrome Ore Ferro Chrome

16. India China Chrome Trade – The Evolution

17. Chrome Equation in China

18. Chrome Unit Balance - China & India Trade 2000 2004 2008 ‘ 000 MTPA ‘ 000 MTPA Domestic Import Domestic Import Domestic Import ‘ 000 MTPA Cr Ore FeCr Cr Ore FeCr Cr Ore FeCr 570 2360 6940 SS Prodn 114 448 1249 Cr Units Net Exporter 171 582 156 277 667 0 22 55 India’s Contribution Cr Units 242 254 188 Cr Unit from FeCr

19. Historical trade flow and Key Observations

20. China’s dependence on India in Chrome Ore or Chrome Alloys China started FeCr import from India in 2004: 37,325 MT

21. EXPORTING COUNTRIES SA : 1st Oman: 3rd Turkey: 2nd India : 4th CHROME ORE: Import Trade Flow of China Import: 6.44 m MT in 2008

22. SA : 1st Kazak: 2nd India : 3rd High Carbon Ferro Chrome/Charge Chrome: Import Trade Flow of China EXPORTING COUNTRIES Import: 1 m MT in 2008

23. China : 1st Japan: 2nd Cr Conc Export: 0.63 m MT in 2008 Export Trade Flow of India: Chrome Concentrate

24. Europe: 4th FeCr Export: 0.45 m MT in 2008 China 3 rd Korea : 1 st Japan: 2 nd Export Trade Flow of India: Ferro Chrome

25. China’s Import of Chrome Ore & Concentrate

26. India's Cr Ore/Concentrate Trade Balance

27. China’s Import of High Carbon Ferro /Charge Chrome

28. India's FeCr Trade Balance

30. Analysis of market dynamics

33. Comparison of China's imported cargo price Chrome Ore Ferro Chrome

36. Future scenario and Conclusion

37. Forecast of SS production in China Govt stimulus package started in end 2008 is in full force.

38. Projected SS demand in India Figs in ‘000 MT Source ISSDA Year Flat Long Total 2005 1001 153 1154 2010 1685 373 2058 2015 3185 900 4085

39. Growth of Ferro Chrome capacity of India and China

41. Scenario Shift in Chrome Alloys : India - China

44. Yin & Yang China & India Chrome Equation

45. The End

46. Thank You