Daily Pour

Date: 17/03/2026   Issue No.: 3818/25-26

Compiled By: Aarti Ghag, Executive Officer - WR

B. Ramchandran, Chennai

IIF News

Dear all,

 

IIF -  Vadodara Chapter 

With Regards,

Mrs. Aarti Ghag

Executive Officer, IIF-WR

 7303511171

Thought of the Day

News Letter Supported By

Today's Top Raw Materials Headlines

*** India: Melting scrap prices fall by INR 200/t d-o-d in Alang

*** India: BigMint's ferrous scrap index rises INR 400/t amid supply concern and GST checks

*** Indian Ferro Moly trader accept lower Prices 

*** Chinese Carbon riser price goes up alarmingly  

*** Chinese Ferro Alloy prices goes up as war escalates 

*** Chinese Magnesium Ingot export price on the rise concerns

*** India: Bids edge down in latest NMDC Nagarnar pig iron auction

*** Chinese Aluminium Ingot suppliers quote higher Price

*** India: Melting scrap prices decrease by INR 200/t d-o-d in Alang

Raw Material News

India Trade Deficit Widens in February

India Balance of Trade
India’s merchandise trade deficit widened to $27.10 billion in February 2026, nearly doubling from $14.42 billion a year earlier but slightly below market expectations of $28.0 billion. Imports jumped 24% year-on-year to $63.71 billion, driven by purchases of gold and silver, while exports fell 0.8% to $36.61 billion. In late February, the US imposed a temporary 10% tariff on Indian goods alongside standard MFN rates, following a Supreme Court ruling that struck down earlier higher tariffs. The widening deficit also reflects rising freight costs and supply disruptions in West Asia. Exporters in sectors such as apparel and manufacturing have begun adjusting shipment schedules and exploring alternative routes to manage higher logistics costs and longer shipping times. While the latest data does not yet capture the full impact of geopolitical tensions in the Gulf, rising insurance premiums and shipping disruptions are expected to influence trade flows in the coming months.

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Indian Rupee Hovers at Record Low

India Currency
The Indian rupee hovered around 92.45 per dollar, trading near record lows, pressured by elevated crude prices and sustained foreign equity outflows. Brent crude climbed above $106 per barrel, extending gains of nearly 40% since the Iran conflict began February 28, as military disruptions and risks to major oil shipping routes have intensified concerns over global energy supply. Persistently high oil prices are forcing importers to purchase more dollars, widening India’s trade deficit and creating a material terms-of-trade shock. Investor sentiment remains fragile, as overseas portfolio investors have withdrawn over $5.5 billion from Indian equities in March, coinciding with an 8% decline in the Nifty 50 so far this month, reducing foreign currency inflows and amplifying depreciation pressures amid firm US dollar strength. The Reserve Bank of India has intervened in FX markets to stabilize the currency and prevent excessive volatility.

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India: Melting scrap prices fall by INR 200/t d-o-d in Alang

Ship-breaking melting scrap prices in Gujarat's Alang market decreased by INR 200/t d-o-d on 16 Mar'26. According to BigMint's assessment, HMS (80:20) prices stood at INR 34,300/t ($371/t) ex-yard. Semi-finished steel prices fell by INR 100-200/t in the region due to moderate trade activities in previous trading session. Meanwhile, average demand for scrap by Bhavnagar-based IF mills prompted suppliers to reduce their offers today.

Industry News

India's Trade Deficit Widens Despite 11% Export Growth in February

India's combined merchandise and services exports grew by 11.04% year-on-year in February 2026. However, imports grew at a much faster rate of 21.61%, leading to a widening of the overall trade deficit to $3.96 billion. While merchandise exports saw a slight dip, services exports provided a significant boost. For the April-February period of the fiscal year, cumulative exports are estimated at $790.86 billion, showing a growth of 5.8%.

India's overall exports, merchandise and services combined, increased by 11.04 per cent year-on-year to USD 76.13 billion in February 2026, compared with USD 68.56 billion in February 2025, according to data released by the Commerce Ministry on Monday.

However, overall imports during the month grew at a faster pace of 21.61 per cent, rising to USD 80.09 billion from USD 65.84 billion in February 2025, the ministry data showed.

As a result, India's overall trade deficit, merchandise and services combined, widened to USD 3.96 billion in February 2026, from (-) USD 2.72 billion in the corresponding month last year.

Merchandise exports in February declined marginally to USD 36.61 billion from USD 36.91 billion. Merchandise imports increased from USD 51.33 billion to USD 63.71 billion.

Services exports rose to USD 39.53 billion from USD 31.65 billion. Services imports rose to USD 16.38 billion from USD 14.51 billion.

Overall trade growth for the fiscal year (April-February), the cumulative value of overall exports, including both merchandise and services, is estimated at USD 790.86 billion as compared to USD 747.58 billion in corresponding period during the last financial year.

It is an estimated growth of 5.8 per cent and increased around approximately USD 42-43 billion.

India's total exports had touched an all-time high of USD 824.9 billion in financial year 2024-25. This marked a yearly growth of 6.01 per cent over USD 778.1 billion exports in 2023-24, setting a new annual milestone. The 2024-25 exports exceeded the initial anticipation of USD 800 billion.

- ANI

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Tata Motors to Increase Commercial Vehicle Prices by up to 1.5% from April 1

The company noted that the latest price revision forms part of its ongoing efforts to balance cost pressures.

Tata Motors has announced that it will increase prices across its commercial vehicle portfolio by up to 1.5 percent, effective April 1, 2026. The company said the revision is aimed at partially offsetting the impact of rising commodity prices and higher input costs faced by the manufacturer.

The price adjustment will apply across the company’s range of commercial vehicles, including trucks, buses and pick-ups. However, the exact increase will vary depending on the model and variant, the company said in a statement on Monday.

Automakers typically revise vehicle prices periodically to counter fluctuations in raw material costs such as steel, aluminium and precious metals used in vehicle components, along with other operational expenses. The latest revision comes at a time when the commercial vehicle industry continues to navigate cost pressures linked to commodities and supply chain inputs.

Tata Motors is one of India’s largest commercial vehicle manufacturers and a major supplier of trucks and buses used in freight movement, infrastructure development and public transport. Industry analysts note that price revisions in the commercial vehicle segment are often influenced by broader trends in raw material markets and regulatory requirements affecting manufacturing costs.

The company’s commercial vehicle portfolio spans light, intermediate and heavy commercial vehicles, as well as buses for both passenger and institutional use. Its products are deployed across sectors ranging from last-mile logistics and e-commerce deliveries to construction, mining and public transport operations.

Part of the Tata Group, which has a presence across multiple industries, Tata Motors operates manufacturing and engineering facilities in India and abroad. The company has also been expanding its connected vehicle technologies and fleet management solutions aimed at improving operational efficiency for transport operators.

In recent years, the manufacturer has focused on strengthening its position in both conventional and alternative fuel commercial vehicles, including electric buses and trucks designed for urban transport and logistics.

The company noted that the latest price revision forms part of its ongoing efforts to balance cost pressures while continuing to invest in product development, technology integration and service networks for commercial vehicle customers.

In a corporate restructuring completed last year, the company’s commercial vehicle business—earlier known as TML Commercial Vehicles Limited—was renamed Tata Motors following a composite scheme of arrangement approved by the National Company Law Tribunal, Mumbai Bench. The change became effective on October 29, 2025, and the company’s equity shares are now listed on both BSE Limited and the National Stock Exchange of India.

The upcoming price increase will come into effect at the start of the new financial year, a period when several automakers review pricing strategies in response to market conditions and cost dynamics.

Life Style and Management

Study reveals positive attitude helps in eating healthy

A recent study found that motivation affects nutrition and diet. People with a positive attitude are more likely to eat healthy food.

The study was published in the journal Appetite and examined the motivational role of a theory called regulatory focus on consumers' involvement in nutrition, that is, the time and effort they put in to finding out about nutrition and seeking out nutritious food. The study also examined the effect of nutrition involvement on consumers' knowledge of nutrition and dietary behaviour.

Regulatory focus suggests that there are fundamental motivational differences among people, with two aspects; promotion and prevention, guiding behaviour. Individuals with a promotion focus are concerned with pursuing positive outcomes, for example engaging in healthy behaviours, while those with a prevention focus will seek to prevent negative consequences, for example by avoiding unhealthy behaviours.

The study involved 1125 consumers in Taiwan, where dietary habits have been changing and there have been increases in obesity, high blood pressure and diabetes. Participants were questioned about their nutrition involvement and knowledge, and diet adjustment.

The findings show that having a promotion focus leads to consumer's involvement in nutrition, which in turn leads to nutrition knowledge and diet adjustment following advice, for example from media, doctors, family members or friends. Having a prevention focus had no effect on nutrition involvement.

It also found that the effect of promotion focus on nutritional involvement was greater among high-income consumers. The evidence suggested that the effect of promotion focus was stronger among men than women, but the authors say this is to be expected because previous research has shown that women have higher levels of nutritional involvement, irrespective of having a promotion focus.

The findings provided insights about nutrition-related consumer attitudes and behaviours and were important given the growing rates of obesity and conditions such as diabetes.

The higher aspirational levels of promotion focused consumers will lead to greater involvement with nutrition to enhance their well-being, while both promotion and prevention-focused individuals will be motivated to maintain good health, the former are more likely to employ approach strategies such as nutritional involvement, said lead author Kishore Pillai.

Pillai added, Given the problems of obesity and illnesses directly linked to unhealthy eating habits, the direct effect of nutrition involvement on dietary behaviours demonstrated in this study underscores the importance of investing in efforts to promote nutrition involvement from a public health policy perspective.

Consumer decisions regarding eating behaviours and nutrition can lead to consequences such as illness and obesity that have direct public health policy implications. Obesity is preventable and increasing consumer involvement in nutrition can help achieve this.

Consumers are likely to receive advice regarding nutrition from multiple sources in their day-to-day lives. Public agencies can encourage promotional focus and in turn involvement in nutrition through appropriate communication. But, as the results of the study, it indicates that the effectiveness of this intervention will vary between high and low-income groups and is likely to vary between males and females.

Jokes All the Way......

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The Institute of Indian Foundrymen 

Western Region