Daily Pour

Date: 24/03/2026   Issue No.: 3823/25-26

Compiled By: Aarti Ghag, Executive Officer - WR

B. Ramchandran, Chennai

IIF News

Dear all,

 

IIF is proud to be an International Co-Organizer of the 76^th WFC 2026. We invite you to be part of this prestigious global foundry event.

• If interested, please fill the IIF form: https://forms.gle/DmcVvLfRNxzYyi5T6
• Register directly at: https://76wfc.com/register
• Submit Technical Papers:https://76wfc.com/papers

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IIF – Kolhapur Chapter Initiative to celebrate National Safety Month.

IIF Kolhapur Chapter is pleased to announce a Series of Workshops on “Best Practices in Safety”.

The workshops will focus on practical safety measures, statutory compliance, and proven best practices to enhance safety culture in all industries.

Sessions will be conducted by experienced industry professionals. 

We appeal all members to participate actively and benefit from this important Safety-focused initiative.

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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: BigMint's ferrous scrap index drops on weaker steel prices, subdued demand

*** India: Foundry scrap prices remain stable w-o-w across all regions

*** India: Coking coal imports fall to 1-year low in Feb'26 amid cautious buying

*** India: OMC to auction 1,600 t of ferro chrome

*** India: Ferro silicon prices remain stable in a quiet market

*** India: Silico manganese export offers strengthen w-o-w amid rising ore costs, trades slowdown

*** India: Coal freights show mixed trends w-o-w amid tight prompt vessel supplies

*** Chinese LC Ferro Chrome Market price lifts 

*** Chinese Ferro Silicon exporters quote higher Price

Raw Material News

Indian Steelmakers Seek Govt Intervention Amid Severe Gas Shortage

Major Indian steelmakers including Tata Steel, JSW Steel, and Jindal Stainless are urgently seeking government intervention to mitigate severe disruptions in industrial gas supplies. The shortage of propane, LPG, and natural gas—exacerbated by disrupted LNG shipments through the Strait of Hormuz due to the ongoing Middle East conflict—is heavily impacting operations. India has already invoked emergency measures restricting natural gas to priority sectors, explicitly excluding the steel industry. Consequently, JSW Steel has received force majeure notices from key suppliers like Petronet LNG. Crucially for the stainless sector, Jindal Stainless reported that several processes across its plants have been adversely impacted due to its heavy reliance on these essential industrial gases.

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India's Private Sector Growth Hits 3.5-Year Low Amid Middle East War Impact

India's private sector activity expanded at its slowest pace since October 2022 in March, according to HSBC's flash PMI data. The slowdown was driven by weaker domestic demand, with companies citing the Middle East conflict, market instability, and rising costs as key dampeners. Input costs rose at the fastest pace in nearly four years, leading businesses to increase selling prices at the quickest rate in seven months. Despite the growth moderation, employment continued to rise at a moderate pace as firms remained confident about future business activity.

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Indian Steelmakers Seek Govt Intervention Amid Severe Gas Shortage

Major Indian steelmakers including Tata Steel, JSW Steel, and Jindal Stainless are urgently seeking government intervention to mitigate severe disruptions in industrial gas supplies. The shortage of propane, LPG, and natural gas—exacerbated by disrupted LNG shipments through the Strait of Hormuz due to the ongoing Middle East conflict—is heavily impacting operations. India has already invoked emergency measures restricting natural gas to priority sectors, explicitly excluding the steel industry. Consequently, JSW Steel has received force majeure notices from key suppliers like Petronet LNG. Crucially for the stainless sector, Jindal Stainless reported that several processes across its plants have been adversely impacted due to its heavy reliance on these essential industrial gases 

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Industry News

India's Growth Slows in March as Energy Shock Hits Manufacturing, Services

India's composite PMI output index stood at 56.5 in March, indicating continued expansion but at a softer pace. New orders grew at their slowest rate in over three years, weighed down by softer domestic demand despite a record surge in export orders. Input costs and selling charges rose at their fastest rates in 45 and seven months respectively, with firms absorbing part of the increase by squeezing margins. Companies cited the Middle East conflict, unstable markets, and inflationary pressures as factors dampening growth, though they remain optimistic about output for the coming year.

The output growth eased across both manufacturing and services sectors in India in the month of March as the energy shock unfolds amid the West Asia tensions, the HSBC Flash India PMI data showed on Tuesday.

The PMI Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - stood at 56.5 in March.

"Softer domestic demand weighed on new orders, which rose at the slowest pace in more than three years, despite a record surge in new export orders. Cost pressures intensified, but companies are absorbing part of the increase by squeezing margins," said Pranjul Bhandari, Chief India Economist at HSBC.

Companies indicated that the Middle East war, unstable market conditions and inflationary pressures all dampened growth. Input costs and selling charges increased at the fastest rates in 45 and seven months, respectively.

There were softer increases in new orders placed with manufacturing companies and their services counterparts. Collectively, sales rose at the slowest pace since November 2022, showed the data compiled by S&P Global.

Outstanding business volumes at the composite level rose for the fourth successive month in March, but the pace of accumulation was only marginal.

Manufacturing-specific data showed further increases in buying levels and stocks of purchases at the end of the last fiscal quarter. In both cases, however, rates of expansion eased from February.

In terms of delivery times, companies reported a marked improvement in vendor performance.

"Firms absorbed a large part of their additional cost burdens, as indicated by a rise in selling prices that trailed that of input costs by a considerable margin. Nonetheless, the rate of charge inflation was marked and the strongest in seven months," said the PMI data.

The Indian private sector firms were optimistic of an increase in output levels over the course of the coming 12 months. Efficiency enhancements, marketing campaigns and new client enquiries were some of the reasons companies gave for their positive assessments.

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India's Private Sector Growth Hits 3.5-Year Low Amid Middle East War Impact

India's private sector activity expanded at its slowest pace since October 2022 in March, according to HSBC's flash PMI data. The slowdown was driven by weaker domestic demand, with companies citing the Middle East conflict, market instability, and rising costs as key dampeners. Input costs rose at the fastest pace in nearly four years, leading businesses to increase selling prices at the quickest rate in seven months. Despite the growth moderation, employment continued to rise at a moderate pace as firms remained confident about future business activity.

India's private sector activity in March slowed to its weakest pace since October 2022, as ongoing tensions in the Middle East, rising inflationary pressures and unstable market conditions weighed on growth, according to the latest PMI data released by HSBC.

The HSBC Flash India PMI Composite Output Index, which measures the combined output of manufacturing and services, declined from 58.9 in February to 56.5 in March, marking the slowest pace of expansion in nearly three-and-a-half years.

HSBC stated "March data highlighted the weakest expansion in Indian private sector output since October 2022.... The HSBC Flash India PMI® Composite* Output Index - a seasonally adjusted index that measures the monthon-month change in the combined output of India's manufacturing and service sectors - fell from a final reading of 58.9 in February to 56.5 in March, highlighting the weakest pace of growth in close to three-and-a-half years".

The data highlighted that the slowdown was primarily driven by weaker domestic demand for goods and services, even as international orders rose to the strongest level in the survey's history.

Companies cited the Middle East war, inflationary pressures and market instability as key factors dampening growth.

The report noted that the largest slowdown was seen in the manufacturing sector, where goods producers indicated that the conflict in the Middle East weighed on production growth by increasing uncertainty, raising inflation and restricting demand. Factory output growth in March was the slowest since August 2021.

The services sector also witnessed moderation, with business activity growth easing to its weakest level since January 2025. Firms pointed to disruptions in international travel and the impact of joint strikes by the US and Israel, along with Iran's counterattacks, as factors affecting demand.

Overall sales growth across the private sector slowed to its weakest pace since November 2022, reflecting softer increases in new orders for both manufacturing and services companies.

The report also highlighted rising inflationary pressures, with input costs increasing at the fastest pace in close to four years. A wide range of items, including aluminium, chemicals, electronic components, energy, food, iron ore, leather, oil, rubber and steel, recorded higher prices.

Selling prices also rose at the fastest rate in seven months, indicating that businesses are passing on higher costs to customers.

Despite the slowdown in growth, companies continued to expand their workforce. Employment rose at a moderate pace, which was the fastest since last August, supported by confidence in future business activity and pending orders.

Manufacturing data showed further increases in buying activity and inventory levels, although the pace of growth slowed compared to February. Supplier delivery times improved, indicating better vendor performance.

The HSBC Flash India Manufacturing PMI also declined from 56.9 in February to 53.8 in March, marking a four-and-a-half-year low.

So while the India's private sector continues to expand, growth momentum has weakened significantly amid geopolitical tensions and rising cost pressures.

Life Style and Management

What do achievers and non-achievers have in common?

Both achievers and low performers see themselves in their extremes. They see their value based on either what they have and what they lack. For achievers they see their value based on their achievements and titles. While low performers see themselves for what they lack.
How do you then see your true worth?

To begin with, you have to remember that you are created in the image and likeness of God or a higher being. Therefore you are of great value as a human being.

Second, your value is based on who you are becoming in every stage of your life. This is determined by your growth and how you are evolving as a person in every achievement, title you received or position you have now.
In short, your value is the character you have developed over the years. It is who you are when no one is looking. It is not your identity but your true essence as a person.

Today, I encourage you to take a pause. Reflect on where you base your self-worth. If you will remove your achievements, titles and positions, who are you?

A gentle reminder that the most important person you need to value and know is yourself.

It is through practice of hashtag#compassion towards yourself that you will be able to see yourself with love and kindness. And be able to live your  #BLissfullLife.

Jokes All the Way......

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The Institute of Indian Foundrymen