| Daily Pour |
 
Date :21/06/2018 Issue No. :1538/17-18
Compiled By : Shyamal Aroskar, Asst. Dir.-WR
B.Ramchandran, Chennai
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| IIF News |
International Yoga Day
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Please Attend
Kolhapur Chapter
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| Thought of the Day |
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| News Letter Supported By |
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| Today's Top Raw Materials Headlines |
*** European scrap prices seen stabilising in July
*** Container scrap inches up in Taiwan
*** Raw materials' price fall drags down stainless scrap
*** Most SHFE base metals prices rebound
*** LME zinc price at 9-mth low; copper drifts further
*** Indian Ferrosilicon prices stable
*** Chinese Carburiser prices soar
*** Chinese PrNd mischmetal price keeps moving up
*** Chinese ferrosilicon export prices decrease further
**** Chinese Carbonriser prices escalates further
*** Chinese bismuth ingot prices down
*** Chinese ferrovanadium prices soar up
*** Chinese lead ingot market sees limited transactions
*** Chinese ferromolybdenum prices down
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| Raw Material News |
Trump Trade War - May lead to a collapse of order in global trade - JISF
Reuters reported that Japan Iron and Steel Federation Chairman Mr Koji Kakigi told a news conference that he is worried that an escalating trade spat between the United States and China would lead to a collapse of order in global trade. He told “Rising trade tensions between the two countries were a matter of great concern
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US premium hits nearly 4-year high; tighter nearby LME spreads pressure European market
The US Midwest copper premium rose to its highest level in almost four years this past week on the back of elevated transportation costs, while premiums in Europe came under pressure from tighter nearby spreads on the London Metal Exchange.
US premium rises to the highest level since mid-July 2014 on astronomical freight costs. Copper premiums in Europe weaken after tighter nearby LME spreads raised the cost of holding stocks. Chinese copper premiums soften on persistent LME backwardation, high import losses. Freight, financing costs push US premium higher The Midwest copper premium in the United States rose by a half-cent in the week to Tuesday June 19, with freight costs propelling the market to a nearly four-year high. American Metal Market’s assessment of the US copper cathode premium rose to 6.5-7 cents per lb delivered to the Midwest on June 19, the highest level since mid-July 2014. This marks the second upward move since late May, when the premium also logged a half-cent gain. Throughout the year, transportation costs - particularly long-haul trucks - have risen to astronomical levels, with spot rates up 30% year on year in some locations.
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Nickle price trend on June 20th
Affected by China-U.S. trade war, the U.S dollor kept rising.Relatively, the base metal price went down. Yesterday, by the end of trading, LME nickle was quoted at 14720 USD/T. In the morning, the future nickle price went down in SHFE. Compared to Wuxi 1807 contract, the premium of Russian nickle was 700RMB/T, and the Jinchuan nickle premium was 800RMB/T. Today, Jinchuan quoted its electrolytic nickle (big board) at 114000RMB/T. It was 1000RMB/T lower than the price yesterday. The mainstream price was 113500-113800RMB/T
Today, the price of stainless steel went on decling. the hot rolling production line of a large stainless steel plant in East China halted their production for overhaul. It would last one week. So, the market demand was insuffcient. Today, the price of high grade ferronickle was 1050-1070RMB/T.It was lower than the price yesterday.The price of low grade ferronickle remained at 3300-3400RMB/T
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| Industry News |
Eicher launches 2 new CNG variants of Trucks
Eicher Trucks & Buses, part of VE Commercial Vehicles has launched new variants for the Eicher Pro 1000 series in the CNG category in a bid to further strengthen its green energy portfolio, according to a company statement.
Eicher introduced CNG in Eicher Pro 1049, which is one of its most successful products in the light and medium range. Eicher also introduced another CNG variant Eicher Pro 1059 in the 5 Ton LCV category. These new additions are aimed to capture the last mile delivery segment of customers in the green corridor of the Delhi NCR region.
The development is also in line with the ‘Clean Fuel Corridor’ being created by the government across the Northern belt.
The brand new CNG range is powered by fuel efficient E483 4 Cylinder 2 V CNG engine with long oil drain interval and ease of service and maintenance. The Eicher Pro 1049, ideal for intra city distribution applications and last mile connectivity, has had a successful run in the last two years, claims the company.
The Eicher Pro 1049 comes with a long cargo body (10ft) and highest payload (2.5T) in the sub 5T segment, with benefits of both of a pickup vehicle and a truck. Pro 1049 also has the best in class fuel tank capacity of 170 litres which translates to longer trip distances; and low wait times at CNG stations due to the smart dual fuel filling valve that is compatible with all CNG stations.
Moreover, the Eicher Pro 1059 CNG version with 12ft and 14ft cargo body lengths has been introduced to address critical city applications such as voluminous cargo. Both Pro 1049 and Pro 1059 CNG vehicles have been designed to ensure convenient and effortless loading and unloading, easy maintenance and longer service intervals, safety of goods and superior uptime.
The two CNG trucks have been introduced in Delhi, Haryana and UP markets and will be available across India in various cargo body option right from 10ft to 14ft.
According to Shyam Maller, Executive Vice President, Light & Medium Duty Trucks and Buses, VE Commercial Vehicles, “The Light and Medium Duty Segment in the commercial vehicle industry, especially in the sub 5T category has great potential to grow as it addresses the critical last mile connectivity and distribution network in rural, semi-urban & urban areas. We have been successful in garnering a 26% share in this category, and have the most comprehensive CNG range in the LMD segment. Last year, we sold close to 3000 units and recorded a growth of close to 80%. Delhi NCR has benefited immensely from the policy thrust to harness inexpensive and clean technologies like CNG, and presents a great opportunity for us to grow further. Our new CNG range in the LCV category underlines our commitment towards clean technology and sustainability, hence driving ‘Green Profitability’ and meeting the needs of the end customers.”
“The new Eicher Pro 1000 CNG versions are a perfect solution for customers who demand best-in-class rated payload, high fuel efficiency, superior uptime, lower maintenance cost for transport operator, enabling faster a turnaround time. Aligning with the business ambitions of the customers and providing lifetime profitability in the segment, the new CNG variants offers exciting new features and an engaging purchase experience to be an economic, friendly choice for customers,” he said.
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'Biggest economies not prepared for another recession'
Former US Treasury Secretary Lawrence Summers warned that developed countries are badly equipped for another recession, both economically and politically, and central banks should be wary of raising interest rates just to control inflation.
“The issue that’s preoccupied monetary policy for the generation before the financial crisis — the avoidance of inflation — is no longer the top issue,” Summers said in a Bloomberg Television interview with Stephanie Flanders on Tuesday. It’s the “maintenance of sound growth and getting to full employment.”
The remarks come as the world’s most powerful monetary policy makers start scaling back the extraordinary levels of support they’ve lent their economies since the financial crisis a decade ago. Summers was echoing comments he made late on Monday, at the opening of an event in Portugal that brings together some of those figures, including Federal Reserve chairman Jay Powell and European Central Bank President Mario Draghi.
Asked about those who say economies have recovered since the financial crisis, Summers said that massive stimulus — including a fiscal boost and unsustainable stock market gains — has obscured the full picture.
“It may be that if policy stays on guard with relatively expansionary monetary policy, with fiscal policies that are traditionally regarded as imprudent, we may keep this going for a while,” he said. “But we’re living with a very brittle economy.”
Last week, the US Federal Reserve raised interest rates by a quarter percentage point and signaled a faster pace of future increases, and the ECB announced it will taper its bond-purchase programme.
But even with many central banks now on the path to more normal policy settings, Summers said interest rates are unlikely to return to historically normal levels before the next recession. That means they’ll be unable to respond with the level of force necessary to effectively address the slump. He called on central banks to complement their standard price-stability mandates with a policy of maximum sustained full employment.
“Downturns happen,” Summers said in the Bloomberg interview. “When they happen, the normal playbook is to cut interest rates by 500 basis points, but there’s not going to be that kind of room.’ He also said the effects from another economic downturn “dwarf and massively exceed any adverse consequences associated with inflation pushing a bit above 2 per cent.”
ECB Governing Council member Philip Lane conceded that Summers had painted an accurate picture of the challenges faced by central banks but underestimated their capacity.
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| Life Style......... |
15 Minutes of Yoga Everyday improves strength, flexibility etc.
What yoga can do for your body?
The researchers found that yoga outperformed aerobic exercise at improving balance, flexibility, strength, pain levels among seniors, menopausal symptoms, daily energy level, and social and occupation functioning, among other health parameters.Yoga does more than calm you down and make you flexible.
How many days a week should you do yoga?
Yoga is amazing—even if you only practice for one hour a week, you will experience the benefits of the practice. If you can do more than that, you will certainly experience more benefits. I suggest starting with two or three times aweek, for an hour or an hour and a half each time.
What are the health benefits of yoga?
Other physical benefits of yoga include:
- Increased flexibility.
- Increased muscle strength and tone.
- Improved respiration, energy and vitality.
- Maintaining a balanced metabolism.
- Weight reduction.
- Cardio and circulatory health.
- Improved athletic performance.
- Protection from injury.
How many minutes of yoga should I do a day?
The greatest and longest-lasting benefits are achieved when at least 3 or 4 yogaasanas are done every day. Most experts recommend a minimum of 10 minutes of practice every day. However, to practice a range of postures and incorporate breathing or meditation, 15 to 25 minutes is necessary.
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