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Date : 12/02/2018    Issue No. :1675/18-19

 

 

Compiled By :   Shyamal Aroskar, Dir.-WR 

 

 

                            B.Ramchandran, Chennai 

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IIF News

IIF - Western Region & Nagpur Chapter  has organized One Day Seminar on " Foundry – Fortune & Future”  to be held at Hotel Sayaji, Raipur. 

 
Date : Tuesday,19th February 2019
 
Time : 10.00 a.m.
 
 
The day will be marked by a series of Informative and Useful Presentations from Highly Knowledgeable Experts associated with Foundry Industry covering topics like 
  • Indian Foundries: Present & Future                               
  • Sandman - A Tool to control Sand parameters
  • Enhancing Foundry Profitability using Advance
  • Radiography Technologies
  • Yield Improvement &Profitability Strategies
  • Smart Foundry Set Up - 2020       
 
For details refer the attached invitation.
 
 
 
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Ahmedabad Chapter 
 
 
 
 
With Regards,
 
 
 
 
Shyamal Aroskar
Director IIF-WR

 

Thought of the Day

 

News Letter Supported By

 

                 

 
 
               
 
         
 
          
 
                 
             
 
 
                
 
 
   

 

Today's Top Raw Materials Headlines

*** Indian Brass, Copper Scrap prices fall tracking the weak trend in MCX Copper


*** LME zinc price falls 2.2% on dollar surge; Cu loses momentum despite 14,000t fresh cancelation

*** Sail foresees price increase, posts record output

*** Selling pressure continues for LME base metals; zinc price sinks 2%

*** Chinese ferro-silicon tender prices for February tumble

*** Chinese copper cathode market sees few transactions

*** Chinese HC ferrochrome market sees limited transactions

*** Global primary aluminum output up by 1.5% YOY in 2018

*** Global alumina output down by 2.1% YOY in 2018

*** Asian stainless steel price to increase on higher nickel cost

 

 

Raw Material News

India has taken a lead in energy accessibility: Modi




Greater Noida, Feb 11 : India has taken a lead in energy accessibility and will achieve 100 per cent household electrification by the end of this year, Prime Minister Narendra Modi said on Monday. Prime Minister Narendra Modi on Monday said globally the perception of energy consumption and supply is changing and nations are coming together to tackle climate change.



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Indian Brass, Copper Scrap prices fall tracking the weak trend in MCX Copper



India’s major brass and copper scrap commodities prices dropped on the Scrap Register Price Index as on Friday, tracking the weak trend in copper Futures prices at India’s Multi Commodity Exchange after U.S. President Donald Trump said he did not plan to meet China’s Xi Jinping before a March 1 deadline for the two countries to achieve a trade deal.

India's major brass and copper scrap commodities prices including Brass Shell 40mm, ACR Copper Coil 3/8, CC Rod LME ++, Copper armature, Copper cable scrap, Copper cathod LME ++, Copper shell 40mm, Copper utensil scrap and Electrolytic Copper strip 25mm prices dropped on the Scrap Register Price Index as on Friday.

The most active February copper contract on India's Multi Commodity Exchange has declined by 0.80 percent to Rs. 442.70 per kilogram on Friday from previous close of Rs. 446.30 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 447.00 per kilogram and an intra-day low of Rs. 442.15 per kilogram during Friday.

The news reignited concern that the U.S-Chinese row will worsen, damaging the already weakening global economy and curtailing metals demand.



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Prices surpass $90 per tonne for first time since March 2017



Seaborne iron ore prices surged across the board on Monday February 11 when trading resumed in China after a week-long public holiday. MB 62% Fe Iron Ore Index: $90.58 per tonne cfr Qingdao, up $5.05 per tonne. MB 62% Fe Pilbara Blend Fines Index: $91.42 per tonne cfr Qingdao, up $5.05 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $92.50 per tonne cfr Qingdao, up $5.18 per tonne. MB 58% Fe Premium Index: $81.38 per tonne cfr Qingdao, up $2.64 per tonne. MB 65% Fe Iron Ore Index: $102.50 per tonne cfr Qingdao, down $0.80 per tonne. MB 62% Fe China Port Price Index: 686 yuan per wet metric tonne (implied 62% Fe China Port Price $90.23 per dry tonne), up 69 yuan per wet metric tonne. Key drivers The Chinese market returned to trading after a week-long break for the Lunar New Year festival. The MB 62% Fe Iron Ore Index breached the $90 per tonne cfr 




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Industry News
India to continue growing at fastest pace; could be second-largest economy by 2030



Prime Minister Narendra Modi exuded confidence on Monday that India would continue to be the fastest-growing large economy, and could be the second-largest economy in the world by 2030.

"Leading agencies such as IMF and World Bank project the same trend to continue in the coming years. In an uncertain global economic environment, India has shown tremendous resilience as an anchor of the world economy," Modi said addressing inaugural address of Petrotech 2019 here.

Modi said, currently, India is fastest-growing large economy in the world... and it "recently became the sixth-largest economy in the world. According to a recent report, by 2030 India could be the second-largest world economy."

As per a Standard Chartered report, India is likely to pip the United States to become the world's second-largest economy by 2030. China will on the top spot surpassing US, which will be at the third place, the report said.

On the roller coaster movement of crude oil and pricing of petroleum, he said, "We need to move to responsible pricing which balances interests of both producers and consumers. We also need to move toward transparent and flexible market for both oil and gas, only then we can serve energy needs of humanity in optimal manner."



He also said that India has made rapid strides in achieving COP21 targets and are on way to achieve those.

He said, "India has the fourth-largest refining capacity in the world. This will further grow up by about 200 million metric tonnes by 2030. Our national bio fuel policy has enacted last year... research on second and third generation bio fuel is being promoted. 12-second generation bio refineries are being set up in 11 states."

Talking about energy policy of India he said, "We have adopted an integrated approach in energy planning. During the last Petrotech Conference in 2016, I mentioned four pillars for India's future - energy access, efficiency, sustainability and security."

He was of the view that energy justice is also key objective for him and a top priority for India.

"Toward this end, we have developed and implemented many policies. The results of these efforts are now evident. Electricity has reached all our rural areas. This year, we aim to achieve 100 per cent electrification of households in India through a targeted programme called Saubhagya. As we raise production, we also aim to reduce losses in transmission and distribution," he added.

He also mentioned that under our UDAY scheme, the government is working towards this objective. India's World Bank ease of electricity ranking improved from 111 in 2014 to 29 in 2018.

Lauding energy efficiency programmes, he said that LED bulbs distributed across the country under UJALA scheme have resulted in an annual savings of Rs 17,000 crore or nearly USD 2.5 billion.

He also said, "Access to clean cooking fuel provide major benefits, especially to women and children from exposure to smoke pollution. LPG connections have been give to over 64 million or 6.4 crore households."

Petrotech 2019, the 13th international oil and gas conference and exhibition, being organised under the aegis of the Ministry of Petroleum and Natural Gas.

The three-day event, from February 10 to 12, will showcase the recent market and investor friendly developments in India's oil and gas sector. Over 95 energy Ministers from partner countries and 7,000 delegates from around 70 countries are expected to be part the event.


 
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SHFE nickel prices climb to four-month high on iron ore futures rally; other base metals mixed


Nickel prices on the Shanghai Futures Exchange surged to a four-month high on Monday February 11 following a rally in iron ore futures on the first trading day after China’s break for the Lunar New Year.


The most-traded May nickel contract on the SHFE stood at 101,690 yuan ($15,073) per tonne as at 10.29am Shanghai time, up by 2,240 yuan per tonne or 2.3% from the close on February 1. The contract had earlier reached a high of 101,950 yuan per tonne – its highest level since October 26, 2018.

The strength in nickel comes amid a rally in iron ore futures on the Dalian Commodity Exchange, which saw the most-traded May iron ore contract on the DCE hit its daily upper limit at 652 yuan per tonne at the open – 5% higher than the close on February 1.

“Bulk commodity markets remained transfixed by the Vale dam disaster, with iron ore prices continuing to surge higher,” senior ANZ Research economist Cherelle Murphy said in a morning note.

“Nickel, the alloying metal, is mainly consumed by the stainless steel sector, so it is normal [that the metal’s prices] will track the performance of iron ore prices on the DCE or rebar prices on the SHFE,” a Shanghai-based senior nickel analyst said.

Iron ore prices were expected to rise on China’s return to the market on Monday, market participants told Fastmarkets MB last Friday, saying that prices would be supported by the announcement of a a series anticipated production cuts by Brazilian producer Vale SA after the rupture of one of its tailings dams on January 25.

Concerns about the security of 'upstream' iron ore tailings dams in the state of Minas Gerais have prompted the evacuation of residents from nearby communities, Brazil’s national mining agency ANM said last Friday.

Meanwhile, the rest of the base metals traded on the SHFE were mixed on Monday morning, with uncertainty ahead of a trade talks between China and the United States due to take place in Beijing later this week pressuring the complex.

This uncertainty was exacerbated by a series of bearish global economic growth forecasts.

International Monetary Fund managing director Christine Lagarde warned attendees of the World Government Summit in Dubai on February 10 of a global economic “storm” as growth undershoots expectations.

"The bottom-line -- we see an economy that is growing more slowly than we had anticipated," Lagarde said.

Lagarde cited what she called "four clouds" as the main factors undermining the global economy, including "trade tensions and tariff escalations, financial tightening, uncertainty related to [the] Brexit outcome and spillover impact and an accelerated slowdown of the Chinese economy".

The comments come after the IMF last month lowered its global economic growth forecast for this year to 3.5% from 3.7%. It was the second time in three months that the IMF had lowered its growth forecast.

In light of such uncertainty in the market, the base metals exhibited mixed movements with lead, zinc and aluminium falling, copper little changed and tin tracking the stronger tone set by prices on the London Metal Exchange of late to rise 0.7%.



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Life Style.........

This novel method can predict fatal heart disease



A novel method called stress cardiac MRI can not only diagnose heart disease, but can also predict which cases are potentially fatal, suggests a new research.


The study showed that predicting mortality is a key requirement for the technology to be more widely used.

In addition, results suggest cardiac magnetic resonance (CMR) has the potential to be a non-invasive, non-toxic alternative to stress echocardiograms, catheterisations and stress nuclear exams in identifying the severity of the coronary artery disease.

"We've known for some time that CMR is effective at diagnosing coronary artery disease, but it's still not commonly used and represents less than one per cent of stress tests used in this country," said senior author Robert Judd, co-director of the Duke Cardiovascular Magnetic Resonance Center in the US.

For the study, researchers analysed data from more than 9,000 patients who underwent CMR.

The findings, published in JAMA Cardiology, showed that for patients without any history of heart disease and at low-risk based on traditional clinical criteria, those with an abnormal CMR scan were 3.4 times more likely to die compared to patients with a normal CMR scan.

For the entire patient population, there was a strong association between an abnormal stress CMR and mortality, even after adjusting for patient age, sex and cardiac risk factors, the team found.

While non-invasive cardiac stress testing is a cornerstone in the clinical management of patients with known or suspected coronary artery disease, CMR works as well or better than other exams at identifying heart wall motion, cell death and the presence of low blood flow, said the study.

Furthermore, the technology does not require any radiation exposure, which is essential in nuclear stress tests.

"With the findings from this study suggesting that stress CMR is effective in predicting mortality, we provide a strong basis for a head-to-head study between stress CMR and other modalities," Judd noted.
 
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Jokes All the Way......
 
 
 
 
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