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IIF-News .: T H e M e o F T H e y e A R - " Working Together For Value Creation"
IIF-News .: T H e M e o F T H e y e A R - " Working Together For Value Creation"
IIF-News…….
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NEWS HEADLINES …
Global Steel Scrap : Prices rise in Asia and US
US domestic scrap climbs 7.8%; global prices also rise
Black Sea pig exports keep climbing; Brazil back in market
US ferrous scrap export prices to Asia move up
Indian welded pipe price stable
US Midwest Ferrous scrap hits 18 month high
Indian Steel scrap market stable with low demand
Indian Ferro Alloys prices stable; looking for upward market
Indian iron ore export market flat
Indian ferromolybdenum dealers appear rejecting bids below INR950/kg
Indian ferrotitanium market stable
Aluminum ingot market trading cautious
Indian silicon metal market picks up slightly after Diwali holiday
LME Nickel stocks hits New record high
FeSi likely to Rise Steadily with Small Range
Indian nickel weakens by 0.1pct on subdued demand
Industrial metals prices seen stable through Dec'
Japanese stainless scrap price to go down
Si Prices Dropped Slightly in China
Market sentiment shifting, ferrosilicon price showing signs of weakness in US
US silicomanganese prices continue to hold steady
Silicon metal prices stable within US market
US ferrovanadium prices firm
US selenium demand weak, price stable
Spot prices for magnesium in the US market show small increases
Silicon metal prices keep stable in China
Weak sentiment in Chinese zinc ingot market
Price of magnesium alloy softening in china
Thin activities continue in magnesium ingot market
Chinese bismuth ingot export prices decrease slightly
High pure magnesium ingot prices stable in china
U S. Detriot settles up $30/ T on major Scrap Grades
Source: Mr. B. Ramachandran, NELCAST Ltd.
IN THE NEWS ….
China’s growth in aluminium output means it has had little need for imports from global markets where stock are
sitting at record highs, with prices falling to a four-year low below $1,800 a tonne in June. Output in the world’s top
aluminium producing nation is still running below total capacity, seen at 32 million tonnes by the end of this year, said
Zhonglin Yin, director of the alumina division in the Zhengzhou Research Institute of Chalco. The Aluminium Corp of
China Ltd is typically referred to as Chalco.
The country’s aluminium production grew by almost 9 percent to 16.2 min in the nine months to September,
according to China’s National Bureau of Statistics. It stood at 19.9 million tonnes for the whole of last year. Of new
capacity this year, 84 percent will be in the western provinces, Zhonglin said at an industry conference in Singapore.
But he added that aluminium production growth is slowing from an average growth rate of 18 percent between 2002
and 2012.
For alumina, a mid-process material used to make aluminium, Zhonglin sees production this year at around 43.5
million tonnes, against a backdrop of more than 60 million tonnes of capacity expected by year-end.
Because China has only identified enough supply of aluminium ore bauxite for the next 15-20 years, Beijing has
issued new policies to reinvigorate exploration in the country, to seek alternative resources and to use as much
overseas bauxite as possible, Zhonglin continued.
China produced 33.2 million tonnes of bauxite from January to September, up 13 percent from year ago levels,
according to the statistics bureau, Beijing has been issuing broad brush rules aimed at reining in overcapacity in
sectors such as aluminium and steel for about a decade, but plans have usually faltered due to resistance from local
government anxious to boost growth
Source: Aluminium Association of India
Over the next few years, M&M will invest nearly INR 5,000 crore to develop 3 or 4 new platforms coupled with a new
family of engines. These new platforms, products and engines will be developed in syncronization with its South
Korean subsidiary, SsangYong Motor Company.
Mr Rajan Wadhera CEO (technology, product development and sourcing, automotive and farm equipment sectors)
said that “We are not going to stay at one price point. Nor are we going to stay at one segment. We have plans of
covering the entire segment. We will be creating platforms for almost every segment of the car industry either directly
or through our firm in South Korea.”
A senior official said Business Line that “The Commerce Ministry plans to compile fresh data for iron ore exports
over the last 2 months and revisit the matter with the Finance Ministry since the advantage of a weak rupee, which
exporters enjoyed in the previous months has been neutralized.”
The official said that when the Finance Ministry had considered the proposal for export duty cut some months ago, it
had argued that there was no need for the move as exporters were already benefiting from a depreciating rupee.
Last month, the Finance Ministry had turned down a proposal forwarded by the Commerce and Mines Ministries
favoring a cut in export duty of 30% on iron ore to boost shipments.
Source - Business Line
The average price of H1 scrap in Pittsburg remained unchanged at $339.5 per long ton. In Chicago the prices were
$344.5 per long ton. The average price in Philadelphia was $338.5 per long ton, rising by $ 20 per long ton when
compared to the previous week prices.
The average price of US H1 scrap in New York, Houston and Boston was $282.5 per long ton. The prices saw
decline of $ 1.67 per long ton during the week.
A Japan-based trader quotes JPY135,000/t (USD1,367/t, 5% VAT excluded) for 304 stainless scrap, the same as
that of the previous week.
The source thinks the price will decrease slightly seeing that of the raw material-nickel in LME futures market
witnessed a markdown of USD405/t in past four working days. In addition, he reveals that the sales performance
shows no signs of recovering and most participants are not condiment of the coming market. Besides, demand from
overseas markets will shrink much with the weather getting colder and colder, thus domestic stock pressure is likely
to increase.
A local based purchaser confirms a stable price, with that of 304 stainless scrap at JPY138,000/t (USD1,397/t, 5%
VAT excluded).
With a target monthly purchasing volume of 300-400t, the source is inactive in supplementing the inventory right now,
waiting for a price decrease. He explains that though suppliers were eager to lift quotations last week when the price
of nickel kept rising, local mills, the end users of stainless scrap did not announce any change and the price failed to
go up.
The most expensive class of secondary aluminium items in Brazil – scrap profile cuttings, unpainted and without
contaminants (iron, oil, grease and rivets) – stood at 4,920 Reais ($2,247) per tonne at the end of October, up 1.2%
on the month and 16% higher year-on-year, according to Fundação Getúlio Vargas (FGV), which carried out the
survey for Abal.
“This increase has been going on for the past few months. We believe that in November and December, there could
be a change in the [current] scenario,” Carlos Roberto Morais, coordinator of Abal´s recycling commission told Metal
Bulletin.
“There´s a limit for the increase […] scrap prices can´t be more expensive than primary aluminium prices,” the
executive added. Increased demand as well as fluctuations in local currency have had a strong effect on prices,
according to market participants. The Real lost almost 20% of its value from January to August, hitting its lowest level
in almost five years of 2.45 Reais against the dollar on August 21. The currency has seen a recovery over the past
month, rising to 2.19 Reais against the dollar on Friday November 1. The average price in Brazil for scrap profile
cuttings with a maximum of 2% of contaminants was 4,300 Reais per tonne, up 1.7% from September and an
increase of 14.1% year-on-year. The average price of scrap household foil and aluminium domestic items without
other materials, such as wood or iron, was 4,230 Reais per tonne, up 1.4% month-on-month, and 10.2% higher year-
on-year.
Used beverage can (UBC) briquettes were priced at 3,530 Reais per tonne, up 1.7% compared with the previous
month and 9.6% higher than the same period a year ago. Loose or baled UBC was trading at 3,370 Reais per tonne,
up 1.2% from September and 13.9% higher year-on-year. The average price of aluminium sheets and foil cuttings,
painted or unpainted, with a maximum of 3% of impurities, was 3,720 Reais per tonne, up 0.5% month-on-month and
10.4% higher year-on-year. The average price of compacted scrap without contaminants with a maximum of 2% of
oils and lubricants was 3,170 Reais per tonne, down 0.6% month-on-month, and up 13.2% year-on-year.
Source: Mr. B. Ramachandran, NELCAST Ltd.
BUSINESS ENQUIRIES…
Jyoti Group Pune scouting for partner for investment
Jyoti Group at Pune require approx. 100 tons of CI casting and 30 tons of SG casting from Full mold process using
thermo Cole patterns. Casting weight ranges from 200 kgs to 10000 kgs single piece.
They are looking for investing in induction foundry in and around Pune and get casting from the same foundry
INTRODUCTION
Govt. of India have set up a few Tool Room & Training Centres of large size involving estimated cost of over Rs. 50
crores each, in order to provide facilities for design and manufacture of toolings, and also for training to improve the
skill of tool markers, for the benefit of industries in MSME sector. A list of Tool Rooms presently being supported by
Govt. of India, and by some States
MINI TOOL ROOM & TRAINING CENTRE SCHEME
In order to meet the growing demand of Tools and dies in the country, particularly in the MSME sector, Govt. of India
have decided to assist the State Govts. To set up Mini Tool Room and Training Centres. A typical such centre can be
set up at an estimated cost of around Rs. 15 crores (including Rs. 10 crores towards cost of machinery/equipment).
However, the cost may vary depending upon the activities proposed to be undertaken. The Centrel assistance will be
in the form of one time grant-in-aid equal to 90% of the cost of machinery/equipment (restricted to Rs. 9.00 crores
ineach case) in the case of a new Min Tool Room, and 75% of the cost of machinery/equipment (restricted to Rs.
7.50 crores) in case of an existing Mini Tool Room to be upgraded/modernised. The balance cost of
machinery/equipment, the cost of land and buildings and the recurring costs would be met by the States/State
Agencies. The scheme will be implemented as a Centrally sponsored Scheme, for which approval of the Planning
Commission has been obtained.
OBJECTIVES
The objectives of the Mini Tool Room & Training Centres would be-
To manufacture Jigs, fixtures cutting tools, gauges, press tools, plastic moulds, forging dies, pressure casting dies
and other toolings for Small Scale Industries. Advanced tool making process using CAD/CAM techniques are to be
adopted.
To provide training facility in tool manufacturing and tool design to generate a work force of skilled workers,
supervisors, engineers/designers etc.
To work as a Nucleus Centre for providing Consultancy, information service, documentation etc, for solving the
problems related to toolings of industries in the region.
To act as a common facility Centre for small scale industries and to assist them in product and prototype
development.
Notifications / Circulars :-
MINISTRY OF FINANCE (CENTRAL BOARD OF EXCISE AND CUSTOMS : Notification No.
109/2013-Cus (NT), dt. 07-11-2013
Rate of exchange of conversion of each of the foreign currency with effect from November 08, 2013
http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2013/cs-nt2013/csnt109-2013.htm
Director General of Foreign Trade, M/O. Commerce & Industry: Circular No. 09(RE-2013)/2009-14
Dt.: 30.10.2013
Clarification on requirement of CENVAT declaration as per PN 35 dated 01.03.2011.
http://dgft.gov.in/Exim/2000/CIR/CIR13/cir0913.htm
DOMESTIC
th th
From : 5 o 7 December 2013
Venue: Codissia Trade Fair Centre, Coimbatore
URL.: http://www.techno4india.com/
INTERNATIONAL:
CAEMEX 2013 SAE-China Congress & China National 26.11.2013 –
China Automotive Engineering and Convention 28.11.2013
Manufacturing Exhibition 2013 Center, Beijing
URL :www.caemex.cn/en/
Disclaimer : Although every care has been taken to ensure that information provided is correct, The Institute of Indian
Foundrymen will not be responsible for any error or omission and it does not necessarily represent official opinion of the Institute of
Indian Foundrymen.