According to reports from IREFCON 2016, the slowdown in China's economy has damaged India's refractories sector, prompting calls for protectionist policies to preserve the country's minerals and metals industries. India's refractory minerals industry has been buffeted over the last year by the sharp fall in the price of steel, which has been compounded by accelerated dumping of Chinese steel products in the Indian market. Sector forecasters have responded by halving growth projections for India's domestic steel industry, from 6% to 3% in 2016. Many Indian steel companies are selling steel at below production costs, thanks largely to high input prices for raw materials, energy, and freight and logistics costs. India currently imports more than 50% of its refractory raw material needs, including graphite, fused and calcined alumina, magnesite and high grade clays.
