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Daily Pour

 

 

Date : 18/08/2017    Issue No. :1372/17-18

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

                            B.Ramchandran, Chennai 

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IIF News

 

National Foundry Day Celebration
 
Rajkot Chapter
 
 
Indore Chapter
 
 
All the chapters ROCK ................on National Foundry Day  
Western Region Chapters
 
 
Chapter/Region
 
Date
 
Venue
 
Rajkot
 
5th & 6th August, 2017
 
Van Vihar 
 
Resort Sasan Gir.
 
Ahmedabad
 
12th August, 2017
 
FIRE N FLAME,Near Food Court, 4TH Floor, ALPHA ONE MALL, Nr. Vastrapur Lake, Ahmedabad.
 
Indore
 
13th August, 2017
Ustav - Vatika, Rajendra Nagar, AB Road ,Indore
 
Kolhapur
 
16th August, 2017
Shahu Smarak Bhavan, Dasara Chowk, Kolhapur
 
Gr. Mumbai
 
+ WR
 
17th August, 2017
 
Hotel Mantra Banquet ,Powai Plaza, Hiranandani, Powai, Mumbai
 
Nagpur
 
19th August, 2017
Krazy Castle, Nagpur
 
Vadodara
 
20th August, 2017
Kamdhenu Resort, Vadodara
 
Pune
 
23rd August, 2017
 
 
 
With Regards,
 
 

 

Shyamal Aroskar

Asst.Director IIF-WR

09323596953

 

  

 

 
 
 
Thought of the Day

 

 

  

 

 

News Letter Supported By

         

                    
 
 
               
 
         
 
          
 
 
                   
 
 
    
 
 
                
 
 
   
 
Today's Top Raw Materials Headlines

 

*** Indian Containerized Shredded Scrap import prices advance sharply


*** Aluminium leads the bull run in base metals

*** US scrap export prices to Taiwan top $300/mt CFR

*** Spanish scrap market awaits increases in September 

*** Indian Aluminium Scrap prices climb; Aluminium Futures down 1 percent

*** India Brass, Copper Scrap prices fall; Copper Futures up 1.93 percent

*** India's inflation to rise further in coming months

*** Chinese bismuth ingot prices rise

*** Chinese lanthanum metal price on the rise

*** Chinese magnesium ingot price continues to rise

*** Chinese silicochromium prices move up

 

Raw Material News

 

Indian Logistics Industry to Experience Higher Investments with the Passing of Industry Tax Reforms and Advances in Technology


Mumbai, Aug 16: The Government of India's strong emphasis on manufacturing and initiatives such as "Make in India" is boosting domestic production, which is bolstering the logistics industry. Logistics companies are making concerted efforts to keep pace with this growth in demand by digitizing their solutions and offering online freight services

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India’s Copper Scrap prices gain in line with the firmness in Copper Futures

India’s major copper scrap prices gained on the Scrap Register Price Index as on Friday, in line with the firmness in copper futures prices at India's Multi Commodity Exchange.

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Indian Bauxite Production Set to More Than Double by 2021

One of the top five regions in the world with the largest deposits of bauxite, India’s bauxite production is expected to increase from 22.08 million tons in 2016 to 49.4 million tons by 2021

 

Industry News

 

Aluminium leads the bull run in base metals


At present, aluminium is in the news for all the right reasons. After a dismal performance in June’17, aluminium is currently trading 22 percent higher on a year-to-date basis, boosted by fears of an imminent supply shortage.

This can be seen in sharp jump in average LME aluminium prices from $1892/t in June to a whopping $1991.13/t so far in Aug’17, highest average since February 2013.

On the MCX, prices jumped to an average of Rs.126.39/kg so far in Aug’17, highest since 2008.

The latest spike in prices to five year highs on Shanghai Futures Exchange (ShFE) and 30 month highs on LME was a result of news of more than expected aluminium output cuts from China.

In a statement released by Shandong Development and Reform Commission (SDRC) on 8th Aug’17, the province has ordered closure of 3.21 million tonnes of illegal capacity that was built without permits.

This is highly significant since Shandong province has aluminium capacity of 10-12 million tonnes, accounting for a quarter of China’s total capacity.

Aluminium leads the bull run in base metals

In the statement dated July 24, world’s biggest aluminium supplier Hongqiao has been ordered to shut 2.68 million tonnes per year of capacity whereas Xinfa Group was told to close 530,000 tonnes by the end of July.

Earlier this month, Hongqiao said that it would cut more than 2 million tonnes per year of "outdated capacity", but no timeline was given for the same.

Not only this, unprecedented rally in Steel and iron ore prices gave way to sharp gains in base metals. Shanghai Steel Rebar futures are already up by more than 30 percent on a year to date basis, all thanks to upcoming winter output cuts in China, the spill over effect of which could be seen in the industrial metals space.

However, the journey ahead is far from smooth as Chinese aluminium output remains high, thereby reflecting in unusually high Shanghai stocks.

Data from the International Aluminium Institute (IAI) showed Daily average output in China, the world's largest aluminium producer, jumped to a record 97,700 tonnes in June against 91,100 tonnes in May.

Daily average primary aluminium output excluding China rose to 70,300 tonnes in June, from 70,000 tonnes in May.

Global production for June, excluding China, was 2.108 million tonnes, down from 2.17 million in May while Chinese production in June rose to 2.931 million tonnes, its highest since January, from 2.825 million tonnes in May.

As a result, Shanghai aluminium stocks currently stand at 473,361 tonnes, 374 percent higher on a year-to-date basis.

Aluminium prices will gain further momentum from clarification by Hongqiao that it has shut down 2.68 million tonnes of production capacity, representing 29 percent of the group's total aluminium product capacity as on 15th Aug’17, more than 2 million tonnes it had earlier promised.

In line with the same, WBMS released figures show that primary aluminium market balance for January to June 2017 witnessed a deficit of 1074 kt, following a shortfall of 1097 kt for whole 2016.

So, we expect aluminium prices to trade higher although at a slower pace towards Rs.137-142/kg mark in the near term. (CMP: Rs.132/kg)
 
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India's inflation to rise further in coming months

Retail and wholesale inflation accelerated in July and the uptrend is likely to continue in the coming months, limiting the space for further monetary easing, says a Morgan Stanley report.

According to the global financial services major, both CPI (Consumer Price Index) and WPI (Wholesale Price Index) inflation have troughed in June and are expected to rise further in the coming months.

The wholesale inflation rose sharply to 1.88 per cent in July from 0.90 per cent in June 2017, mainly on account of turnaround in prices of food articles, especially vegetables.

Retail inflation jumped to 2.36 per cent in the month, chiefly driven by hardening of prices of sugar and confectionery items, pan, tobacco and intoxicants.

"We estimate August CPI and WPI inflation to rise further to 3.0 per cent and 2.1 per cent year-on-year, respectively, based on current trends in high-frequency food prices and global commodity prices," Morgan Stanley said in the research note.

Post RBI's rate cut by 25 bps earlier this month, the debate on further easing continues on expectation that inflationary pressures would remain subdued, providing the central bank with further room to ease.


However, Morgan Stanley maintains that RBI is unlikely to take up any further cuts as inflation is expected to gradually edge back towards the target of 4 per cent



 

Life Style & Management

 

The right food habits during monsoon


Rainy Season is when chances of stomach infection can increase due to faulty eating habits. One can reduce the chances of such health complications easily by making a few alterations to their daily diet, says experts.

Mehar Rajput, Nutritionist and Dietitian at FITPASS, and Aditi Sharma, Chief Dietitian at Columbia Asia Hospital, Ghaziabad, dole out tips on how one can take care of infection:

* Include garlic, pepper, ginger, asafoetida, jeera powder, turmeric and coriander in food as it help enhance digestion and improve immunity.

* Should prefer boiled water during rainy season because germs are present in water. Have medium to low salt food and avoid heavy salty food as they are responsible for high blood pressure, promoting bloating and water retention.

* Non-vegetarians should go in for lighter meat preparations like stew and soups. But be careful about the fish and prawns. Avoid too much of fish and meat this season with heavy curries.

* Include warm dal or soup in your diet. Add spices like turmeric, clove, black pepper and sauf in it.

* Consuming hot soups during monsoon can reduce inflammation and help fight infection.

* Avoid taking food and vegetables in raw form. Like raw sprouts, they can cause indigestion and lead to gastric problems.

* Turmeric is not only a great antibiotic but is also known to have anti-inflammatory and healing properties which can really help in reducing inflammation in the digestive system.

* Sauf water can be consumed after every meal in order to help you digest food and reduce the chances of gastric problems
 
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Jokes All the Way

 

 


 

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The Institute of Indian Foundrymen   

 Western Region

 

 

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

Phone : +91-22-26591308, 26591303, email : wr@indianfoundry.org

 

 

 

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