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Daily Pour

 

 

    

Date :22/02/2018    Issue No. :1471/17-18

Compiled By :   Shyamal Aroskar, Asst. Dir.-WR 

                            B.Ramchandran, Chennai 

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IIF News

 

Dear All,

  

 
Please Attend
 
 
Rajkot Chapter
 
WORKSHOP FOR PRODUCTION OF S G IRON AND BEST PRACTICES FOR INDUCTION FURNACE
 
Date & Day    :  24th February 2018, Saturday

Time                :  4:00 pm to 7:00 pm

Venue               : Rajkot Engineering Association,  Board Room, Rajkot

Subject             : 1) Production of S. G. Iron   : Shri Dhananjay Upadhyay:- Tathastu Consultancy, Rajkot
                           
                            2) Best practices for induction furnace  : Shri Bharatbhai Davda:- Project Leader, EDI of India, Rajkot

Circular Attached 
 
***
 
Indore Chapter
 
 

A training workshop on Energy efficiency improvements in compressed air and cooling water systems to be held at,  Pioneer Engineering Industries, 75/8-9, Industrial Area, Maxi Road, Ujjain, on February 27, 2018

The workshop is being organized by TERI and IIF-Indore Chapter under the GEF-UNIDO-BEE project.

The workshop is targeted to build the capacities at Local Service Providers (LSPs) like consultants, technology providers, energy auditors, technicians and maintenance operators. There is no participation fee for the workshop.

PLEASE SEND YOUR PRIOR CONFIRMATION.

Circular Attached

 

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Western Region & Pune Chapter
Western Region & Pune chapter.
 
The 8th Council Meeting of Western Region & Under National Theme of Mission Zero Defect a Seminar on IIF-WR Metal Power Quality Circle Series & IIF-WR Gargi HA Technical symposium to be held at Pune  as per details given below:
 
Date & TheDay :  Wednesday, 28th February, 2018
 
Venue:    The Pride Hotel, 5 University Road, 
                Shivajinagar, Pune, 
                Maharashtra - 411005            
 
 
a) 09:30 a.m. to 04:00 p.m.-  IIF-WR Metal Power Quality Circle, under National Theme of Mission Zero Defect supported by Metal Power Analytical (I) P. Ltd.  
 
b) 04.30 p.m. to 07.00 p.m. -  IIF-WR Gargi HA Technical Symposium supported by Gargi Huttenes Albertus Pvt. Ltd.
 
c) 07:15 p.m. – 08.15 p.m. 4th IIF-WR Council Meeting
 
 08:15 p.m. onwards Dinner  
 
No Registration Fees
 
 
 
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GMC Chapter 
 
Seminar om "Aluminium Casting - The Future Ahead"
 
Date : Friday, 16th March 2018
 
Venue : Grand Peninsula , Sakinaka, Mumbai
 
Registration Fee
 
For IIF - Members ..... Rs. 750  Inclusive of GST 
For Non - members.....Rs. 1250 Inclusive of GST

Register on 
iif.mumbai@gmail.com.
 
Also Attached Delegate Registration Form 
                                                                                   
 
 

 

 

 

With Regards,

  

 

Shyamal Aroskar

Asst.Director IIF-WR

09323596953

 

 

 

 
Thought of the Day

 

 

 

 

News Letter Supported By

 

  

             

 

     

 

    

 

  

 

 

  

 

     

 

    

 

    

 

      

 

Today's Top Raw Materials Headlines

 

 

*** Chinese Scrap Metal Prices Witnessed No Change on Index


*** EU Steel plate prices climb on reduced import volumes, elevated slab costs

*** ESI maintains rebar price for March  

*** Italian and Mediterranean billet prices rise  

*** Brazilian aluminium premiums rise on soaring Midwest market following Section 232 recommendations

*** Base metals retreat; US Section 232 creates issues abroad

*** Turkish mills slow down deep-sea purchases

*** India needs more cargo than ports

*** Inactivity persists in seaborne coking coal market amid Chinese holiday

 

Raw Material News


Toyota Readies Cheaper Electric Motor bu Halving Rare Earth Use


The automaker has developed a magnet for the motors that as much as halves the use of a rare earth called neodymium and eliminates the use of others. Toyota Motor Corp. is readying electric motors that include as much as 50% less in rare earths amid concern of a supply crunch as automakers race to expand their electric-vehicle lineups. Rare earths along with metals like lithium and cobalt are seeing soaring demand from a growing electric vehicle market, propelled mainly by increasingly stringent emissions restrictions worldwide. China, which is home to the world’s biggest auto market and the leader in electric vehicle sales, supplies more than 80% of rare earths globally.


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Indian Brass, Copper Scrap prices advance


India’s major brass and copper scrap commodities prices advanced on the Scrap Register Price Index as on Monday, while copper futures prices at India's Multi Commodity Exchange dropped as trading volumes were remain thin with U.S. markets were closed on Monday for Presidents' Day and also the Shanghai Futures Exchange is closed for the Lunar New Year, reopening on Thursday, Feb. 22.

India's major brass and copper scrap commodities prices including brass huny scrap, brass shell 40mm, brass sheet scrap, acr copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++,  copper shell 40mm, copper super d.rod and electrolytic copper strip 25mm advanced on the Scrap Register Price Index as on Monday.

The most active February copper contract on India's Multi Commodity Exchange has declined by 0.91 percent to Rs. 457.30 per kilogram on Monday from previous close of Rs. 461.50 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 462.20 per kilogram and an intra-day low of Rs. 455.40 per kilogram during Monday.

In the week ahead, investors will focus on minutes of the Fed’s latest policy meeting with hopes the central bank will give more hints on the pace of future rate hikes this year.

Staying in the U.S., a report on existing home sales will be the highlight of the holiday-shortened week. Markets stateside will remain closed on Monday for the President's Day holiday.

***

US Section 232 could put pressure on prices for scrap and Turkish steel

The Section 232 report announced by the US Commerce Secretary Wilbur Ross is expected to hit prices in Turkish steel and scrap markets if approved, according to market participants.
US Commerce Secretary Wilbur Ross said President Donald Trump and his administration are considering massive across-the-board tariffs and restrictive quotas following the department's Section 232 investigation into steel and aluminium imports, released on Friday February 16.

"People expect stressful times ahead. That is not just going to be bad for Turks but also everybody supplying raw materials to them. There will be a war for existing markets. The sales strategies will be more aggressive and, therefore, [steel] prices will be falling. The scrap prices, in addition may be heading down at least until April 11," a scrap trader said.

He was responding after Ross outlined three potential measures aimed at limiting steel imports on national security grounds: a blanket tariff, targeted tariffs and quotas, or blanket quotas.

The report included a global tariff of at least 24% on steel imports from all countries, with a more targeted tariff of at least 53% on steel imports from 12 countries, including Turkey; and a quota on all countries equal to their 2017 exports to the US. The report also included a quota on steel imports from all countries equal to 63% of their total exports to the US in 2017.

Turkish market participants mostly believe that the report will affect Turkish steel and raw material markets badly, as well as the markets supplying raw materials to Turkey and potentially even the US market itself, Metal Bulletin was told.

"It is likely that the final decision will be close to what was recommended,” a Turkish mill source said. “Turkey had been expecting better. This recommendation is not good for the producers in Turkey.”

“US scrap suppliers will have to focus more on their local markets, but the domestic market consumes mostly premium grade scrap, such as shredded, plate and structural scrap (P&S) and busheling. The HMS grade scrap would continue to come to Turkey,” he said.

“Steel and scrap prices may fall sharply unless Turkey cuts production at very high rates. The US was the last market for Turkey, into which they were selling at high tonnages," he added.

"The US will import at least 28 million tonnes of steel at all costs. This will push up the prices in the US and therefore, this decision will not last long," a Turkish trader said.

On the other hand, one international trader was more optimistic about the report.

"I think Trump will find a way to balance the US market and the Turkish market will not be affected much," he said.

Turkey exported 1.83 million tonnes of steel products into the US in 2017, down 22.5% year on year, according to the Turkish Steel Exporters’ Assn (ÇIB).

The fall in the country’s steel exports into the US continued into January 2018, with Turkey’s steel exports decreasing 83.6%, compared with January 2017, to 42,000 tonnes.

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Industry News

 

'Temp' employees help cos meet deadlines, cut costs


B N Thammaiah

I needed them yesterday!” you tell your staffing agency. “We’ve hit our busy season and need more people here. Fast!” Regardless of whether a company builds truck parts or print signs, is a restaurant or an accounting firm, there’ll be times when extra hands are needed. Bringing in a temporary worker (referred to as a temp) may be the right solution. They can fill a gap quickly and there’s no long-term commitment involved.

Over the years the role of temps has broadened. Early on, they were mainly lower paying positions — administrative assistants or general handymen. These groups are still among the most popular temp roles. However, today one can find temps doing accounting tasks, marketing functions, and other higher-level roles. For example, a trend that has been witnessed at C-level hiring, especially within the startup community recently, is “temporary or interim leadership management”. Startups these days are exercising financial prudence. But at the same time, they do have a requirement of getting the top management to set up and streamline core business divisions. Hence, they are recruiting C-level executives for a short-fixed tenure. This is designed to achieve the perfect balance of getting the insight, intelligence and experience of C-suite leaders into the startup ecosystem and not spend a fortune on hiring them on a full-time basis.

Temp workforces can help when a key customer moves the deadline up on a big project and you don’t quite have the staff on hand, or a big-ticket project comes by and your company doesn’t have the requisite bandwidth to match service-level agreements (SLAs) with existing staff. Temps also come in handy if a staffer quits with little notice, is on vacation while there is major work that needs to be done.

An obvious advantage of using temps is their flexibility. Companies can bring them in with little lead time. That apart, temps relieve the existing staff from being over-burdened and burned out at times of extreme work pressures and meeting tight deadlines or SLAs. They can be brought in to do specialised work the existing staff may not be qualified to do. Off late, we have seen specific cases of CEOs/ CFOs/ CTOs from large MNCs leaving their high-end, cushy jobs and instead associating with multiple startups as interim resources, often guiding them with their experience. Temps such as them, are adept at enabling companies to meet project deadlines and handle extraordinary business demands, thereby adding to the bottom line.

Another unique trend that has been observed is that most people who opt for a temp job often prefer their employment that way and do not necessarily aspire for a permanent employment or appointment. There can be two reasons for this — they either want to divide their time between personal and professional obligations and on their own terms and conditions, or they simply do not want to associate themselves with one company, brand or product. They want to follow the consultative approach towards their job. Mostly, both these can happen when a resource is specialised in a field and temping it out is the best way to maximise returns on their (time and efforts) investment.

However, some employees still question the credibility of temp jobs when it comes to enjoying the same equity as that of permanent staffers in a company. A growing number of companies from high-growth industries is taking steps to bring in parity in the identity and recognition of both categories of employees — by bringing in temp workers within the gamut of similar pay structures, training modules, HR policies and perks at the office space as that of their more permanent peers. Staffing companies are also taking measures to integrate temp employees seamlessly into their work culture.

With work preferences of employees changing, we might also see the government coming up with robust mechanisms that ensure aspects pertaining to employee’s welfare aren’t compromised. We might also see a regulatory framework that makes it difficult for fly-by-night operators who run agencies without adhering to proper regulatory aspects.

Now that India has woken up to the various advantages of hiring temp and contract staff, the party has only begun. The year 2018 is when this trend will only get bigger with major industries such as IT & telecom, retail, hospitality, BFSI, manufacturing and e-commerce seeing sporadic and intense requirements of human-resource deployments. The top earning industries are using temp and contract staff in their respective industries and have not looked back.

In the recent past, contract-staffing was in vogue for manufacturing, oil & gas and other core sectors. But it was largely unorganised and did not get its due importance. With a boom in the IT sector, contract-staffing gained importance and popularity among companies and workforce because of the volumes it generated. Contractual hiring is predominantly done for individual positions, specific skill sets or short spurts of manpower needs and sudden demands. The understanding is that the association between the organisation and the employee is for a fixed duration and is subject to renewal. India is poised for a good growth year in 2018 and to quote an example, the IT contract-staffing leads the way in terms of numbers. All the major players in the industry have seen good growth in FY 2016-17 and the contractual staffing industry was a direct beneficiary of this growth. Retail, e-commerce, healthcare, telecom and BFSI sectors are expected to lead the industry’s growth over the next three years.

The huge demand for quick staffing solutions has forced recruitment companies to organise itself to ensure high-compliance standards and key in engines for speedy delivery. According to leading industry reports, the temporary workforce is likely to form about 15% of India’s formal employment in the next 10 years.

India has the third-largest contract staffing workforce in the world, after China and the US. The government continues to be the largest employer of temporary workforce of about 15 million. This is followed by the IT and IT-enabled-Services and is expected to grow by at least 20% year-on-year in the next three years.

The contract staffing industry is evolving rapidly from serving the blue-collared workforce to IT/ITeS staff, in addition to medium-level and niche roles within companies. It is no more a taboo to be a contract employee. The Indian job market is changing rapidly and premium words like loyalty, permanency, gratuity, long term, moving up the ladder, building a career, etc, are becoming old-school thoughts. The nature of the workforce in itself focuses on quicker and better career options, learning opportunities on the job, upfront remuneration rather than long-term wealth creation and job flexibility.

A similar trend is being seen in the retail and e-commerce space in India. Driven by demand for e-commerce delivery and retail stores, coupled with a wobbly job market, companies are being forced to take in temporary candidates. This category is witnessing a 20% year-on-year rise. Experts, who see less than 10% growth in permanent hires, have gone on record to state that their clients are hiring 15-20% more in temp job hiring.


The market is still unpredictable and laying off permanent staff can be risky. Companies are moving towards temp jobbers. Temp for roles like delivery executives, shop-floor managers for e-commerce and retail, sales personnel for fintech industries are being sought after. While, salaries have remained the same, the demand has risen. Retailers are hiring temp workers through staffing agencies, graduates from tier-2 and tier-3 B-schools. Hiring firms witnessed nearly 10% increase in the number of freshers trained and hired for roles in delivery, procurement and IT teams.


In conclusion, temp and contract hiring is getting a big recognition in India. The changing market dynamics, be it financial stability of companies, the way they spend their money on hiring, rotational or seasonal requirements of various jobs, traditional job roles meeting their nemesis with the ever-changing consumer landscape or simply the way people look at their job-role descriptions nowadays, etc, have paved the path for temp- and contract-job roles coming to the fore. The day is not far when future generations by choice would see a ‘9-5 job’ as a concept reduced to a minority of companies and employees. The fact that employees are increasingly willing to sacrifice the additional benefits that come with a permanent job, such as gratuity and health insurance, in exchange for a greater amount of flexibility marks the formal advent of the ‘gig economy’, which is here to stay.

 

***

Copper, nickel slide on low demand


Prices of copper and nickel drifted lower by Rs 2 per kg at the non-ferrous metal market owing to slackened demand from consuming industries amid a weak trend overseas.

Marketmen said besides easing demand from consuming industries at domestic spot market, a weak trend overseas led to decline in copper and nickel prices. Meanwhile, copper for delivery in three-month slipped by 0.6 per cent to USD 7189 per tonne on the London Metal Exchange.


In the national capital, copper mixed scrap and nickel plate(4x4) were down by Rs 2 each to Rs 410 and Rs 798-803 per kg, respectively. Following are today's metal rates (in Rs per kg): Zinc ingot Rs 126-132, Nickel plate (4x4) Rs 798-803, gun metal scrap Rs 227, Bell metal scrap Rs 229, copper mixed scrap Rs 410, chadri deshi Rs 295. Lead ingot Rs 125, lead imported Rs 131, aluminium ingots Rs 154, aluminium sheet cutting Rs 150, aluminium wire scrap Rs 150 and aluminium utensils scrap Rs 148.

 

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Life Style & Management

 

Low blood pressure


Hypotension, also commonly known as low blood pressure is a condition in which blood pressure in the arteries gets abnormally low. In some cases, the blood pressure gets so low that it fails to reach all the body organs, resulting in lightheadedness, dizziness, and even fainting.

The ideal reading level for blood pressure is more than 120 over 80 but less than 140 over 90 (120/80-140/90). The higher of the two is the measure of systolic pressure, which means the pressure in the arteries when the heart beats and fills them with blood. The second number measures diastolic pressure, which means the pressure in the arteries when the heart rests between beats. If either number is below the ideal reading level, your pressure is lower than normal.

Usually, in healthy people, low blood pressure without any symptoms means negligible health concerns. But if it shows symptoms, it is an indication of inadequate blood flow to the heart, brain, and other vital organs, which needs to be treated as soon as possible.

Chronic low blood pressure which shows no symptoms is not considered as a serious health concern. But there are possibilities that sudden drop in blood pressure may develop several health issues. Mostly, sudden fall in blood pressure occurs while getting up from a lying position or suddenly standing from a sitting position. This kind of low blood pressure is also referred to as postural hypotension or orthostatic hypotension.

Postural hypotension happens when there is failure of the cardiovascular system or nervous system to react appropriately to sudden changes. Our body normally compensates by sending messages to the heart to beat faster and to the blood vessels to constrict. But if this does not happen, or happens too slowly, it causes postural hypotension and can lead to fainting.

Low blood pressure may also occur when a person is standing for a longer duration. This type of low blood pressure is referred to as neurally mediated hypotension.


It should be noted that with age, the risk of both low and high blood pressure normally increases. This is due to the reason that blood flow to the heart muscle and the brain declines with age, often as a result of plaque build-up in blood vessels.

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Jokes All the Way

 

 

 

           

****

 

 

Notice...

 

In a company: A man standing on the floor, not doing any work and looking aimlessly......

CEO of that company came and asked his salary...

Man replied "5000 sir"

CEO took out his wallet and gave 15000 and told him...

"I pay people here to work and not to waste time,

This is your 3 months salary.

Now get out of here. Never come back"

That guy left.............
.
.
.
.
Then CEO asked workers "Who was that guy?"

Workers replied "Pizza delivery Boy Sir"..

Moral:Dont overreact in every situation...!!

 

 

 

 

 

 


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The Institute of Indian Foundrymen             

 Western Region

706, Madhava, Bandra-Kurla Complex, Bandra (E), Mumbai-400 051

Phone : +91-22-2659 1308, 2659 1303, email :  wr@indianfoundry.org

 

 

 

 

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