Theme of the year

IIF announces release of the 10Guide 2016

IIF News…IIF News…IIF News…IIF News…

Issue – 165: Dated –

Theme of the year - “Nurturing Manufacturing

IIF announces release of the 10th edition of the Indian Foundry Directory cum Buyers

� Excellent reference document for use by companies, individuals related to foundry & associated industries

� Comprehensive database of Casting Mfrs.Equipment Mfrs/Suppliers� Foundry Material Pattern/ Die Makers� Foundry ConsultantsCalibration Labs� Casting Buyers/ Overseas Casting users

� Technical information on foundry related aspects

� Also available in pen drive with user-friendly interface and enhanced search options

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– 9th

February, 2016

Nurturing Manufacturing”

oundry Directory cum Buyers’

Excellent reference document for use by companies, individuals related to foundry & associated industries

Comprehensive database of Casting Mfrs.� Foundry Foundry Material Mfrs/Suppliers�

Foundry Consultants� Testing & Buyers/ Overseas Casting users

Technical information on foundry related aspects

friendly interface and

Now.

fic@indianfoundry.org or call

P a g e 2 | 8

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ITEMS Price 31.01.2016

Rs./Kg (Incl. Excise)

Price 07.02.2016

Rs./Kg (Incl. Excise)

Pig Iron 26.8 26.8

Melting Steel Scrap 20.0 20.0

CRCA Scrap 23.5 23.5

Copper Ingot 363 365

Aluminum Ingot 131 133

� Indian Brass, Copper scrap prices advance; MCX Copper closes lower at Rs. 316.10/kg

� India finally imposes Minimum Import Price for steel

� Scrap prices weakened further last week: The Steel Index

� Indian Ferro Alloys price stays stable at low levels

� India containerized Shredded Scrap import prices edge down

� Indian Nickel Scrap prices advance in line with Nickel Futures

� US Shredded Scrap prices decline;

� US Aluminum Scrap prices remain almost flat

� EU domestic scrap prices sinking on scant demand

� LME copper, Aluminium rally on fund buying

� US FeMo: Prices hold in range

Scania to double manufacturing capacity in 4 years Swedish commercial vehicle and engine manufacturer Scania said that it will double the production capacity at its Karnataka-based plant to meet sales expectations. Besides, the company is aiming to increase market share in the luxury segment and is looking at the development of infrastructure as “positive integers” for volume growth here. Mr. Mikael Benje, Scania India Business Unit Managing Director, said that “We now have a production capacity of 2,500 trucks and 1,000 buses and that is to be doubled by 2020. That is our long-term strategy for the Indian market.” Mr. Benje said that “We have the potential to account for a bigger market share. That’s why we are ramping up production.” However, Mr Benje declined to share Scania’s investment on the expansion of its Achatnahalli, Karnataka plant. In the next five years, Scania would also expand its employee pool to 1,200 people at this facility. The company has invested INR 300 crore in the facility so far. Source : PTI

Approx. major raw material prices…Approx. major raw material prices…Approx. major raw material prices…Approx. major raw material prices…

News headlines…News headlines…News headlines…News headlines…

In the news…In the news…In the news…In the news…

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Caparo Group plans new auto parts plant in India Battling the meltdown in steel sector in the UK, Lord Swraj Paul-led Caparo Group is planning to get into new ventures in the US and also expand its India presence with a new automotive components plant. Mr Paul, Chairman of the UK-based one-billion euro industrial conglomerate focused largely on steel products, has just taken over a leading trailer manufacturer for an undisclosed sum that could run into several crores of rupees. The purchase of Manchester, Iowa based XL Specialized Trailers, a leading manufacturer of customised heavy-haul trailers for the commercial, construction and agricultural markets, marks the NRI industrialist-led group's entry into a new business arena. He said that Caparo Group, which already has 30 plants in India, is now planning to set up one more automotive components plant in the southern part of the country. Caparo India, through its multiple strategic business entities offers end-to-end solutions in the design, development and manufacturing of automotive systems, assemblies, advanced composites, modules and components for automakers and engineering majors. Source : PTI

Indian Brass, Copper scrap prices advance; MCX Copper closes lower at Rs. 316.10/kg India major brass and copper scrap commodities prices advanced on Friday, while copper futures prices at India's Multi Commodity Exchange settled lower after U.S. jobs data kept alive speculation about a U.S. rate hike later this year, boosting the dollar ahead of the Lunar New Year holiday in China. The major brass and copper scrap commodities showed an uptrend on Scrap Register Price Index as on Friday. India's major brass and copper scrap commodities like brass chadripital desi, brass huny scrap, brass shell 40mm, copper heavy scrap, copper mixed scrap, copper pat, copper super D.rod, copper utensil scrap and copper wire scrap traded higher on Friday. However, the most active February copper contract on Multi Commodity Exchange settled lower by nearly 1% to Rs. 316.10 per kilogram on Friday from previous close of Rs. 319.20 per kilogram. The MCX copper prices touched an intra-day high of Rs. 319.10 per kilogram and an intra-day low of Rs. 313.75 per kilogram during Friday. The dollar index bounced back from a week of heavy losses after a mixed U.S. jobs report, which included a fall in the unemployment rate to 4.9 percent, the lowest since February 2008. Also weighing on prices ahead of the holiday was a surge in weekly inventories of copper in Shanghai Futures Exchange (ShFE) warehouses. Copper stocks jumped 29,317 tonnes, or 13.8 percent reversing the fall from the prior week. World pig iron output dropped slightly in Dec '15 According to latest statistics released by the World Steel Association, the global pig iron dropped increased slightly by 1.10% over the previous month to 89.619 million tons during the month of December last year. The global output of pig iron had totaled 90.616 million tons during the month before this. The total pig iron production by EU-28 countries during December last year was 6.809 Million tonnes (Mt), slightly lower when compared with the November 2015 production of 7.173 Mt. Germany accounted for 1.885 Mt and the UK’s pig iron output totaled 520,000 mt. Italy’s pig iron output rebounded sharply from 419,000 mt in Nov ’15 to 451,000 mt in Dec ’15.

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Asian countries accounted for nearly 77% of the global pig iron output during Dec ’15. Among them, China accounted for nearly 60% of the world blast-furnace iron output during the month. The Chinese output totaled 53.330 mt during the month. The Indian pig iron output ended slightly higher at 4.595 million mt in Dec ’15 when compared with the output of 4.589 million mt in November last year. The Japanese pig iron output declined from 6.671 million mt in Nov ’15 to 6.648 million mt in December last year. Also, South Korean output dropped heavily from 3.986 million mt a month before to 3.164 million mt during December ’15. The US pig iron output climbed higher marginally to 1.850 million mt. A notable increase in production volume was reported by Brazil during the month. The country’s pig iron production surged higher from 2.169 million mt a month ago to 2.276 million mt during Dec ’15. The other major pig iron producing nations were Russia (4.500 million mt, up 3.81% month-on-month) and Ukraine (2.100 million mt, up 5% month-on-month). US Shredded Scrap prices decline; US Aluminum Scrap prices remain almost flat United States shredded scrap prices declined during the week ended January 29, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index showed an almost flat trend. According to TSI, US Midwest weekly shredded index dropped by $2 a long ton the week to $187 a long ton (delivered mill). Steel producers are believed to be lowering bids and consequently participants noted the overall availability of scrap in the domestic market will grow – a welcome sign for some buyers who were 15-20% short on orders for January, according to Platts reports. The outlook for pricing is currently split between sideways and bearish for February deliveries however, with negotiations beginning next week, this will soon become clearer. The weekly average scrap prices of Al/Cu Rad with Iron, Al/Cu Radiator, Alum Breakage, Alum Litho Sheets, Alum Old Sheet, Alum Transformer and Mix Alum Casting remained almost flat during the week. World Bank: Iron ore prices likely to record largest drop in 2016 According to the World Bank prediction, iron ore prices are likely to record the largest drop among all metals during the current year. The quarterly report published by the bank has lowered the 2016 price forecasts for iron ore significantly. The average price of iron ore is expected to touch low levels of $42 per ton in 2016, significantly lower by almost 25% when matched with the average prices of $55.80 during last year. This is considerably lower when compared with its earlier price forecast. In October last year, the World Bank had predicted that iron ore prices are likely to average around $59.50 per ton in 2016. The World Bank also predicts that iron ore prices are likely to average around $44.10 per ton in 2017. The prices are expected to stay below $50 per ton before 2019. It also expects the prices to rise to $51 per ton by the end of 2019. The supply of low-cost iron ore has increased in China. The inventories at Chinese ports are likely to exceed 100 million tons, ahead of the Spring Festival holidays when steel making activities are expected to remain subdued. As steel mills resume production after holidays, the iron ore inventories at ports are expected to decline.

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The ramp up in steel making activities after Lunar New Year holidays usually result in increased consumption of iron ore. However, traders are not optimistic this year, primarily on account of country’s slowing economy. Meantime, Chinese customs data indicate that iron ore imports by the country surged higher by 17% over the previous month to touch record high of 96.27 million tons during December last year. The World Bank report also forecasts 16% decline in copper and nickel prices during 2016. India's exports may fall to $265-270 billion in FY16, says FIEO The country's exports will range between $265-270 billion in 2015-16, sharply lower than the $310.5 billion achieved in the previous fiscal, exporters' body FIEO said today. "According to our assessment exports for the current fiscal will range between $265-270 billion. If this trend continues it may lead to job losses," FIEO Director General Ajay Sahai told PTI. Exports contracted for the thirteenth month in a row in December 2015 as outward shipments shrank 14.75% to $22.2 billion amid a global demand slowdown. Sahai demanded that the corpus of the exports development fund which currently stands at Rs 200 crore should be enhanced to Rs 3,000-5,000 crore as it was inadequate. "The export development fund which currently has a corpus of Rs 200 crore is inadequate and should be enhanced to 0.5 to 1% of export value which is anywhere between Rs 3,000 to Rs 5,000 crore. Commerce Ministry has supported this demand. We are now awaiting a response from the Finance Ministry," he said. During April-December period of the current fiscal, exports dipped 18% to $196.6 billion as compared to $239.9 billion in the same period of the previous fiscal, according to the data released by the Commerce Ministry. Besides, FIEO today signed an agreement with TUV Rheinland India Pvt Ltd, a group company of TUV Rheinland, Germany to support its members in better understanding the requirements related to standardisation, conformity assessment, product & consumer safety, etc. Source: Business Standard, 4

th Feb, 2016

Sitharaman discusses growth strategy with export bodies Exporters from various sectors such as pharmaceuticals, textiles, chemicals, engineering goods, farm products and marine products discussed their specific problems and ways of boosting exports in a meeting with Nirmala Sitharaman, Minister for Commerce and Industry, on Tuesday. Sitharaman said her Ministry will work with various departments including environment, textiles, external affairs and finance to boost exports and also address tax related issues. FTA impact The 12 export promotion councils (EPCs) attending the meeting also raised the issue of the impact of India-Asean free trade agreement on the country’s exports. Commerce Secretary Rita Teaotia said that the Centre had already started a review of the FTA. The Centre will also look into the likely impact of GST on exports, she said. The Minister asked representatives of the EPCs to inform the Ministry about “what is not happening and what should ideally happen,” an official release said. Shrinking demand India’s goods exports declined for the thirteenth consecutive month in December as the slowdown in major global economies continued to shrink demand.

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Most EPCs made a case for an increase in duty drawbacks, inclusion of more items in the export incentive scheme MEIS, and abolition of the service tax on exports. The EPCs also pointed out the need to address problems arising out of online applications and delays in getting environmental clearances. They also sought more measures aimed at ensuring the ‘ease of doing business’.

JAC to set up light truck assembly plant in Algeria It is reported that Anhui Jianghuai Automobile Co (JAC), plans to set up its first light-load truck assembly plant in Algeria. The report said that the new plant is expected to be based in Algeria’s Ain Temouchent province, and will possess an annual capacity of assembling 10,000 light trucks, following the completion of the first phase It said that the plant involved a total investment of $128 million and will be JAC's 19th vehicle assembly plant in the world and its first light truck plant in Africa. It will be built through cooperation with Emin Auto, an auto dealer in Algeria. It added that JAC declined to reveal when the plant will be finished. Source : TRADE ARABIA

.

JICA - SIDBI Financing Scheme for Energy Saving Projects in MSME Sector (Phase II) The Japan International Cooperation Agency (JICA) has extended the second Line of Credit to Small Industries Development Bank of India (SIDBI) under the Phase II of the Micro, Small and Medium Enterprises (MSMEs) Energy Saving Project for financing Energy Efficiency (EE) opportunities in MSMEs. Phase I of the Project gained immense popularity among the MSMEs across the different industrial sectors, where more than 2700 energy efficient projects were installed in MSME units. The project is aimed at sustaining the efforts of MSME Energy Saving Project – Phase I and encourage MSME units to undertake energy saving investments in plant and machinery to reduce energy consumption, enhance energy efficiency, reduce CO2 emissions, and improve the profitability of the units in the long run. The financial assistance to MSMEs will be provided through SIDBI, as well as through refinance to Banks / State Finance Corporations (SFCs) and Non Banking Financial Companies (NBFCs). The project also seeks to provide technical assistance to these financial institutions and MSME units for successful implementation of this Scheme resulting in Energy Saving in MSME Sector and thereby contributing to environmental improvement and socio-economic development in the country and address the climate change concerns. For more details please visit the following link: http://sidbi.in/sites/default/files/JICA%20-

SIDBI%20financing%20scheme%20for%20MSME%20projects%20Phase%20II.pdf

GovernmGovernmGovernmGovernment schemesent schemesent schemesent schemes............

InInInInternationalternationalternationalternational news…news…news…news…

MINISTRY OF FINANCE, DEPT. OF REVENUE Notification No. 22 / 2016 - CUSTOMS (N.T.)

Amendments in the notification of MoF

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MINISTRY OF FINANCE, DEPT. OF REVENUE

Notification No. 18/2016 - Customs (N.T.)

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http://www.cbec.gov.in/htdocs-cbec/customs/cs

MINISTRY OF COMMERCE AND INDUSTRYPublic Notice No.58/2015-2020, 1

st February

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