Daily Pour

Date: 20/02/2026   Issue No.: 3804/25-26

Compiled By: Aarti Ghag, Executive Officer - WR

B. Ramchandran, Chennai

IIF News

Dear all,

IIF -Greater Mumbai Chapter Organising Eklavya Project along with Shree L R Tiwari College of Engineering. 

Topic :

1. Smart manufacturing in the era of industry 4.0 By Mr. Manan Shah, Superkino Equipment Pvt. Ltd.

2. Failure is the best teacher in Engineering By Ms. Narayani Pandya, dedicated Counselor and Shreemad Bhagwat Katha Vachak. 

Date  : 24th February 2026, 

Time  : 2.45p.m. Onwards.

Venue: Shree L R Tiwari College.

             Kanakia Rd, Kanakia Park, 

              Mira Road East, Mira Bhayandar, 

              Maharashtra 401107

 

 

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With Regards,

Mrs. Aarti Ghag

Executive Officer, IIF-WR

Thought of the Day

News Letter Supported By

Today's Top Raw Materials Headlines

*** India: Melting scrap prices remain firm d-o-d in Alang

*** India: Scrap prices in Chennai inch up by INR 100/t w-o-w amid healthy demand - 19 Feb

*** India: Mill scale exports rise 93% y-o-y in 10M FY-26 amid shifting demand tactics

*** India: BigMint's ferrous scrap index hits 6-week low amid surplus scrap arrivals

*** India: Medium-carbon silico manganese prices rise w-o-w on improved export demand

*** India: Power generation grows modestly y-o-y in early Feb'26, but fuel mix shifts markedly

*** India: Met coke prices remain stable w-o-w on firm import offers despite softer coking coal costs

*** India: Ferro titanium prices inch up w-o-w

Raw Material News

India: Melting scrap prices remain firm d-o-d in Alang

Ship-breaking melting scrap prices in Alang, Gujarat, remained stable d-o-d on 19 Feb'26. According to BigMint's assessment, HMS (80:20) prices were at INR 33,500/t ($368/t) ex-yard. Average trade activity was observed for semi-finished and finished steel during yesterday's trading session in the region. Additionally, moderate buying inquiries for scrap by Bhavnagar-based IF steel mills prompted suppliers to keep their offers stable today.

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India: Medium-carbon silico manganese prices rise w-o-w on improved export demand

Medium-carbon silico manganese (Mn 53%, Si 20%, C max 0.5%) prices inched up w-o-w by INR 500/t ($5/t) to INR 85,500/t ($939/t) exw-durgapur on 19 Feb'26, supported by higher-priced deal closures and supportive trade sentiment. Improved demand from overseas and tight spot availability lifted prices. Offers were heard in the INR 85,000-85,800/t ($933-942/t) range, with deals for around 370 t concluded within INR 85,500-86,000/t ($939-$944/t).

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India: SAIL-ASP procures 65 t of ferro molybdenum via reverse auction

SAIL's Alloy Steel Plant (ASP) procured 65 t of ferro molybdenum (Mo 60% min, 10-50 mm) through a reverse auction held on 17 Feb'26. According to market sources, the entire quantity was booked at an L1 price of about INR 2,721,000/t FOR ($29,892/t), excluding GST and including GeM portal charges. BigMint assessed ferro molybdenum (Mo 60%, 10-100 mm) prices at INR 3,760,000/t ($41,282/t) exw on 18 Feb'26.

Industry News

India's Inflation to Rise to 4.3% in FY27, Says Crisil Report

A Crisil report forecasts India's consumer inflation will increase to 4.3% in the financial year 2027, up from an estimated 2.5% in FY26. This rise is primarily attributed to food inflation normalizing from current low levels due to a base effect. However, the revised Consumer Price Index series, which reduces the weight of food, will limit the extent of the overall inflation increase. The report also suggests this outlook allows the Reserve Bank of India to maintain its current pause on the repo rate.

 Consumer inflation in India is expected to rise to 4.3 per cent in the financial year 2027, compared with an estimated 2.5 per cent in the current financial year, according to a report by Crisil.

The report stated that retail inflation is expected to rise due to food inflation normalising from the current low levels, mainly because of a low base effect.

It said "We expect retail inflation to rise to around 4.3 per cent in fiscal 2027 from an estimated 2.5 per cent in fiscal 2026".

While food prices are anticipated to remain broadly benign, supported by the assumption of a normal monsoon in 2026, the base effect will push food inflation higher than fiscal 2026.

However, the report noted that the reduced weight of food in the new Consumer Price Index (CPI) series will limit the extent of this increase.

The weight of food in the revised CPI series has declined to 36.75 per cent from 45.86 per cent earlier, which implies that the base-effect-led increase in inflation will be smaller compared to the earlier series.

The report also highlighted that non-food inflation is expected to help restrain the overall rise in consumer inflation.

The report further noted that core inflation is expected to cap the upside in consumer inflation. The weight of the core CPI index has increased to 57.89 per cent from 47.3 per cent, strengthening its influence on headline inflation.

In the first nine months of fiscal 2026, core inflation rose faster than the headline inflation rate, driven by a sharp spike in gold and silver inflation. However, due to this high base and expectations of benign global oil and commodity prices, core inflation is likely to remain moderate in fiscal 2027.

Food inflation is expected to push up headline consumer inflation in fiscal 2027, but less than earlier expectations due to changes in the CPI basket.

The lower weight of food in the revised series means that the rise in inflation will be more limited compared to the previous index.

The report also noted that food inflation volatility may decline under the revised CPI structure.

According to Crisil, this inflation outlook would allow the Reserve Bank of India's Monetary Policy Committee to maintain its pause on the repo rate and focus on the transmission of the 125 basis points rate cut carried out in calendar year 2025.
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India Entering Tech Acceleration Phase Seen Earlier in China: Valeo CEO

With India contributing 1 percent to global revenue and China 17 percent, Valeo’s CEO says the difference lies in timing of electrification and ADAS adoption, not strategy, as India now enters a scale-up phase backed by a €200 million investment over three years.

For Valeo, India and China operate under the same strategic philosophy. Both follow a strict local-for-local model. Both rely on domestic manufacturing, local suppliers and indigenous engineering teams.

What differs, according to Christophe Périllat, CEO of Valeo, is not the approach, but the stage of technological evolution.

China today contributes around 17 percent to Valeo’s global revenue. India accounts for roughly 1 percent. The divergence, Périllat indicated, reflects the pace at which electrification and advanced safety systems scaled in each market.

Technology Maturity Drives Scale

China’s rapid adoption of electric vehicles and advanced driver assistance systems over the past decade allowed Valeo to scale significantly in that market. The company now operates 27 plants and employs nearly 18,000 people there.

India, by contrast, is only now entering a similar technology acceleration phase.

SUVs account for more than 60 percent of new vehicle orders in India. EV penetration stands at around 4 percent today but is expected by Valeo to approach 25 percent by 2032, including hybrids. Meanwhile, safety regulations are tightening, with more advanced ADAS features expected to become mainstream by 2028.

“The car will be electrified, the car will be safer, and the car will be more and more software,” Périllat said, describing the shift that aligns India more closely with Valeo’s global strengths.

Scaling with Electrification and ADAS

Valeo’s growth in India is anchored in its Power and Brain divisions. The company is localising electric motors, inverters, DC-DC converters and battery cooling systems, while simultaneously industrialising camera production for ADAS, with manufacturing scheduled to begin in 2026.

Electrified products already account for around 25 percent of the Power division’s India revenue. Localisation in electrification stands at roughly 50 percent and is increasing as volumes grow.

Investment Supports Momentum

To support this phase of expansion, Valeo will invest more than €200 million in India over the next three years to expand capacity and deepen localisation.

The company employs over 7,000 people in India, including more than 3,000 engineers and over 1,000 software engineers, underscoring its growing software-led profile in the country.

For Périllat, the contrast between China and India is not structural. It is chronological.

As India’s automotive market transitions toward electrification, safety and higher software content, Valeo expects the country’s contribution to move beyond its current 1 percent share, reflecting its rising role in global automotive production.

India, he suggested, is not following a different path. It is entering the same technology curve at a different point in time.

Life Style and Management

The Strength of Starting Over

The Strength of Starting Over

Starting over. Two words, yet they carry the weight of countless emotions. I’ve been there—standing at the edge of a path I’ve walked before, armed only with hard-earned lessons and a resilient heart. If you’re on a new beginning today, remember:

You are stronger than you think.

You’ve Fallen Before—and Risen

Life tests us all. We’ve had moments when dreams fell apart, plans crumbled. But you survived those times, didn’t you? Every stumble taught you something priceless. Now, you have the strength to rise again—stronger, wiser, and ready.

 Let Fear Fuel You

Starting over can be scary. But that fear? It’s a sign you’re growing, pushing boundaries. Let it drive you forward. Every great transformation begins with a shaky step.

Progress Over Perfection

Don’t rush; just keep moving forward. Every foundation is built brick by brick. Small, steady progress adds up to transformation.

Vulnerability Is Strength

It takes courage to admit when things didn’t go as planned. Your story, real and raw, can uplift others who are on similar paths. Embrace it.

Remember Your Why

When the journey gets hard, focus on your ‘why’. It’s the reason you push forward, the fire that keeps you going through obstacles.

Step Forward and Own Your Power

Today, as you begin again, know that you’re not here by accident. This is your moment to transform setbacks into strength. Go forward with fierce determination—you’re unstoppable.

"You already have within you all you need to face what’s ahead."

So embrace this new chapter. You’ve got this, and I’m here cheering you on! 

Jokes All the Way......

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The Institute of Indian Foundrymen