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Daily Pour

 

 

    

Date :23/05/2018    Issue No. :1523/17-18

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

                            B.Ramchandran, Chennai 

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IIF News

 

Please attend

 
 
Western Region

The 10th Council Meeting, 57th ARM and 1st Council meeting of Western Region will be held at Mumbai as per details given below :
 
Date & Day              - Saturday, 26th May, 2018
 
Venue                       -  Hotel Bawa International Vileparle (E), Mumbai
                       
5.30 pm to 6.00 pm  -   10th Council Meeting
 
6.30 pm to 7.45 pm   -  Annual Regional Meeting of IIF-WR
 
7.45 pm to 8.15 pm   -  1st Council Meeting (2018-19)
 
You are requested to make it convenient to attend the meeting. 
 
 
Meeting will be followed by Dinner

 

 

 

With Regards,

  

 

Shyamal Aroskar

Asst.Director IIF-WR

09323596953

 

 

 
Thought of the Day

 

 

News Letter Supported By

 

 

                   
 
 
               
 
         
 
          
 
 
                   
 
 
    
 
 
                
 
 
   

 

Today's Top Raw Materials Headlines

 

*** Brazilian pig iron booked at $410/mt CIF New Orleans


*** Ukraine's parliament raises scrap export duty

*** European alloy surcharges increase again

*** World Nickel Market at Marginal Deficit During Q1 2018

*** EU to set 25% import duty on US Steel, Aluminum

*** Indian Brass, Copper Scrap prices advance as US-China trade tensions cool

*** India's steel output grows 4% to 8.59 MT in April

*** India to achieve 9% growth rate by 2022

*** India's GDP growth in Q4 of FY18 seen at 7.4%: ICRA

*** Chinese lead ingot price up

 

Raw Material News

 

India's steel output grows 4% to 8.59 MT in April



The country had produced 8.22 MT during the same month a year ago, the Joint Plant Committee (JPC) said in a report.



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Innovative projects get a helping hand from SMC


Of the 100 ideas presented by the startups from across the country, top three were awarded at the idea competition. A hybrid two-wheeler by A Arvind Kumar won the top prize. This hybrid two-wheeler runs on petrol and electricity.



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Indian Brass, Copper Scrap prices advance as US-China trade tensions cool


India’s major brass and copper scrap commodities prices advanced on the Scrap Register Price Index as on Monday, tracking the uptrend in copper futures prices at India's Multi Commodity Exchange, with prices underpinned as the chance of a U.S.-China trade war appeared to fade.


India's major brass and copper scrap commodities prices including brass shell 40mm, acr copper coil 3/8, copper armature, copper cathod lme ++, copper heavy scrap, copper shell 40mm, copper super d.rod and copper wire scrap climbed on the Scrap Register Price Index as on Monday.

The most active June copper contract on India's Multi Commodity Exchange has gained by 1.23 percent to Rs. 467.85 per kilogram on Monday from previous close of Rs. 462.15 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 469.40 per kilogram and an intra-day low of Rs. 463.20 per kilogram during Monday.

Washington and Beijing both claimed victory on Monday as the world’s two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost U.S. exports to China.



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Industry News

 

India's steel output grows 4% to 8.59 MT in April



India's crude steel production grew 4.4 per cent to 8.59 million tonne (MT) during April 2018, according to official data.

The country had produced 8.22 MT during the same month a year ago, the Joint Plant Committee (JPC) said in a report.

"During April 2018, crude steel production was at 8.59 MT, a growth of 4.4 per cent over April 2017," it said.
During April 2018, the output of hot metal was at 5.80 MT as compared to 5.38 MT during the year-ago month. While 4.83 MT was produced by the six companies, the rest 0.96 MT came from other producers.
During April 2018, the output of hot metal was at 5.80 MT as compared to 5.38 MT during the year-ago month. While 4.83 MT was produced by the six companies, the rest 0.96 MT came from other producers.


SAIL, Rashtriya Ispat Nigam Ltd (RINL), Tata Steel , Essar Steel, JSW Steel and Jindal Steel and Power Ltd together produced 5.01 MT during April. This was 6.7 per cent more compared to 4.7 MT the six players had produced in April 2017, the report said.

"The rest 3.57 MT came from other producers, showing a growth of 1.4 per cent over April 2017," it added.

During April 2018, the output of hot metal was at 5.80 MT as compared to 5.38 MT during the year-ago month. While 4.83 MT was produced by the six companies, the rest 0.96 MT came from other producers.

Output of pig iron rose 1.9 per cent to 0.80 MT from 0.78 MT in April 2017.

According to World Steel Organisation (worldsteel), India outstripped Japan to become the second largest steel producer as its steel output grew 3.43 per cent to 8.43 MT in February against 8.29 MT of the latter.

India has set a target of producing 300 MT crude steel by 2030 with an investment of Rs 10 lakh crore. In this regard, the Cabinet last year approved the National Steel Policy (NSP).

Empowered by Ministry of Steel, JPC is the only institution which collects data on the Indian iron and steel industry.




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Government working on excise cut as fuel prices hit new peak


A cut in oil prices looked imminent on Tuesday with the government busy crunching numbers for reducing the excise duty on motor fuels and looking at alternatives to soften the blow from bubbling crude as petrol and diesel prices notched up fresh records at Rs 76.87 and Rs 68.08 a litre, respectively, in Delhi — the reference market — on Tuesday.


An indication of the government’s desire to scale down the relentless rise in pump prices came from none other than BJP president Amit Shah when he said it was a matter of concern in the highest echelons of the government and will be addressed in a few days.

“As far as (rising) petrol prices are concerned, the government is taking it very seriously. Tomorrow (
Wednesday) the oil minister will be holding a meeting with all the oil companies. The government is looking into the reasons for the rising prices and will certainly come out with a formula to deal with it or resolve the matter in 2-4 days. The oil minister has also informed the people about this today” Shah told reporters.


Shah’s remarks make it amply clear that the decision to provide relief has been taken at the political level and the administrative details are being sewn up by the concerned arms of the government, namely the Prime Minister’s Office and the ministries of oil and finance.

As reported by TOI on Monday, oil minister Dharmendra Pradhan had first raised hopes of a reduction in excise duty on Sunday, saying the Centre was “alive to the rising fuel prices”. “Various alternatives are being explored. I hope something will work out soon,” he had told reporters in Bhubaneswar.


The minister blamed “the unilateral decision of OPEC to reduce production, political instability in Venezuela and the prospect of US sanctions against Iran” for the steady rise in fuel prices. Last week, Pradhan also spoke to his Saudi counterpart, Khalid Al-Falih, arguing for a “reasonable and stable price regime” in the oil market.


The various factors pushed the global benchmark crude, Brent, beyond $80 a barrel on Tuesday. Almost on cue, refined product prices, which serve as benchmark for pump rates, have also shot up. The combined impact has been amplified by a falling rupee. With oil refusing to show any sign of cooling off anytime soon, the government has little room to avoid a duty cut.


The Centre had raised excise duty nine times between November 2014 and January 2016 when oil prices practically went into a free fall. Altogether, excise was raised by Rs 11.77 per litre on petrol and Rs 13.47 on diesel before being pared in October 2017. This more than doubled the government’s excise mop-up to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15.


At the time, both Pradhan and finance minister Arun Jaitley had told Parliament that the Centre was keeping part of the relief to fund infrastructure projects and welfare schemes for the poor. An excise duty reduction at this point could squeeze the Centre’s spending ability as every Re 1 cut results in a revenue loss of Rs 13,000 crore annually.



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Life Style & Management

 

A new 'vision': overcome various eye diseases


A new technique has been developed to help patients overcome various eye diseases.
According to researchers from the Columbia University, the new technique for the powerful gene editing tool CRISPR to restore retinal function in mice afflicted by a degenerative retinal disease, retinitis pigmentosa.

This is the first time researchers had successfully applied the CRISPR technology to a type of inherited disease known as a dominant disorder. As per the researchers, this same tool might work in hundreds of diseases, including Huntington's disease, Marfan syndrome, and corneal dystrophies.

Researchers Stephen H. Tsang and his colleagues sought to create a more agile the CRISPR tool so it can treat more patients, regardless of their individual genetic profile. Tsang called the technique genome surgery because it cuts out the bad gene and replaces it with a normal, functioning gene. Tsang said he expects human trials to begin in three years.

"Genome surgery is coming," Tsang said. "Ophthalmology will be the first to see genome surgery before the rest of medicine."

Retinitis pigmentosa is a group of rare inherited genetic disorders caused by one of more than 70 genes. It involves the breakdown and loss of cells in the retina, the light-sensitive tissue that lines the back of the eye.

It typically strikes in childhood and progresses slowly, affecting peripheral vision and the ability to see at night. Most will lose much of their sight by early adulthood and become legally blind by age 40. There is no cure. It is estimated to affect roughly 1 in 4,000 people worldwide.

Since it was introduced in 2012, the gene editing technology, known as CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats), has revolutionised the speed and scope with which scientists can modify the DNA of living cells.

Another advantage is that this technique can be used in non-dividing cells, which means that it could enable gene therapies that focus on nondividing adult cells, such as cells of the eye, brain, or heart. Up until now, the CRISPR has been applied more efficiently in dividing cells than non-dividing cells.

The study appears in the journal Ophthalmology.




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m

 

Jokes All the Way

 

Because....

 
Wife pings husband on whatsapp: call kr bc balance khtm ho gya hai ! Urgent..
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It took15 minutes for husband to understand that bc means “Because”
 
 
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Football Show
 
Santa : Itne khiladi kyun football ko laat maar rahe hai?
 
Banta .: Goal kar ne k liye.
 
Santa: Susra, ball toh pahle se hi gol hai aur kitna gol karenge!
 
 

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The Institute of Indian Foundrymen             

 Western Region

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

 

 

 

 

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