Daily Pour

Date: 05/02/2026   Issue No.: 3799/25-26

Compiled By: Aarti Ghag, Executive Officer - WR

B. Ramchandran, Chennai

IIF News

Dear all,

74th Indian Foundry Congress & IFEX, 12-14 Feb 2026, Mumbai

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Thought of the Day

News Letter Supported By

Today's Top Raw Materials Headlines

*** India: Foundry scrap prices remain firm as regional demand holds steady

*** India: Pig iron prices rise m-o-m in Jan'26 on met coke cost push, demand stays cautious

*** India: Melting scrap prices increase by INR 300/t d-o-d in Alang

*** India: Big Mint's ferrous scrap index rises as steel prices improve

*** India: Mill scale prices show mixed trends across key markets

*** India: Domestic silico manganese prices inch up after MOIL ore price hike

*** India: Ferro molybdenum prices climb to over 3-month high on higher global, LME prices

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

*** India: Stainless steel prices remain steady w-o-w amid cautious buying, nickel volatility

*** Chinese Aluminium Alloy suppliers quote higher price 

Raw Material News

India's Services PMI Hits 58.5 in Jan, Hiring Resumes on Strong Demand

India's services sector activity strengthened in January, with the HSBC Services PMI rising to a two-month high of 58.5. Growth was driven by robust demand, new business gains, and increased international orders from regions like Southeast Asia. This positive outlook prompted service providers to resume hiring after a pause. While input and output costs increased, the rate of inflation remained moderate by historical standards. The seasonally adjusted HSBC India Services PMI touched a two-month high of 58.5 in the month of January, from December's 58.0, noting quicker expansions in new business intakes and output, the S&P Global data showed on Wednesday. Service providers in India welcomed a recovery in growth during January. They were also more upbeat towards the outlook and hired additional staff. On the price front, there were quicker albeit still moderate increases in input costs and selling charges. The main features behind output growth were demand buoyancy, new business gains and tech investment, the report showed. "India's services PMI rose to 58.5 in January, up from 58.0 in December, signalling sustained momentum in the sector. Robust output growth was driven by a steady influx of new orders, including increased international demand from South and Southeast Asia," said Pranjul Bhandari, Chief India Economist at HSBC. Business confidence climbed to a three-month high, supported by efficiency gains, effective marketing, and the acquisition of new clients.

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India-US Trade Deal Boosts Manufacturing, Exports & Growth: Report

A report by Axis Direct states the newly effective India-US trade deal is a medium-term structural positive for India's economy. It aligns with the nation's production-linked incentive (PLI) schemes and ambition to ascend global value chains. Key sectors like textiles, chemicals, pharmaceuticals, and IT services are poised to benefit from improved market access and tariff certainty. The deal also enhances India's appeal as a strategic manufacturing alternative for the US while supporting export diversification and FDI.
Axis Direct report says the India-US trade deal aligns with PLI schemes, diversifies exports, and strengthens India's position in global value chains.

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India’s Copper Demand Surges While Supply Struggles to Keep Up

India’s copper demand rose sharply (~9.3% in FY25) while domestic supply lagged, underscoring strategic vulnerability and the need for diversified sourcing, including imports and recycled copper inputs. Reuters reports that while copper and other base metals are forecast to gain year-over-year on strong demand signals, analysts caution that recent sharp rallies may not be sustainable, with speculative price pressures potentially deterring real industrial consumption.

Industry News

TAFE Launches Third Season of MASSEY DYNASTAR Innovation Contest

National platform invites farmers, entrepreneurs, students, and innovators to submit creative ideas using Massey Ferguson tractors, with the winner receiving a tractor valued at approximately ₹8.2 lakhs along with recognition opportunities.

Tractors and Farm Equipment Limited has announced the launch of Season 3 of the MASSEY DYNASTAR Contest 2026, expanding its national innovation platform for agricultural and rural entrepreneurship ideas.

The competition invites Indian citizens above 18 years of age to submit ideas demonstrating practical applications of Massey Ferguson tractors across agriculture, allied sectors, and rural enterprises. Participants can register online and submit entries in video or text format in English or any Indian regional language.

The grand prize includes a Massey Ferguson 254 DYNASMART tractor worth approximately ₹8.2 lakhs. Shortlisted participants will present their concepts before an expert jury comprising industry specialists and senior leaders from TAFE at a Grand Finale event.

Season 3 represents an expanded scope compared to previous editions, accepting ideas powered by any Massey Ferguson tractor. Each submission must demonstrate feasibility and practical application that enhances farming practices, enables business opportunities, or drives social and economic change.

TAFE, established in 1960 in Chennai, ranks as one of the largest tractor manufacturers globally and the second-largest in India by volume, selling over 180,000 tractors annually. The company operates through four tractor brands—Massey Ferguson India, TAFE Tractors, Eicher Tractors, and IMT—supported by a distribution network of over 1,600 dealers.

The company exports tractors to more than 80 countries across Asia, Africa, Europe, the Americas, and Russia. Beyond tractors, TAFE and its subsidiaries operate in sectors including farm machinery, diesel engines, engineering plastics, and automotive interiors.

Previous seasons of the MASSEY DYNASTAR Contest focused on celebrating rural ingenuity and entrepreneurship through a similar platform structure.

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India-US Trade Deal Boosts Manufacturing, Exports & Growth: Report

A report by Axis Direct states the newly effective India-US trade deal is a medium-term structural positive for India's economy. It aligns with the nation's production-linked incentive (PLI) schemes and ambition to ascend global value chains. Key sectors like textiles, chemicals, pharmaceuticals, and IT services are poised to benefit from improved market access and tariff certainty. The deal also enhances India's appeal as a strategic manufacturing alternative for the US while supporting export diversification and FDI.

India-US trade deal complements India's manufacturing push under the PLI schemes, supports export diversification, and advances its goal of moving up the global value chain, says a report by Axis Direct. For the US, India represents a large and dependable market, as well as a strategic manufacturing alternative in key sectors.

The report noted that for Indian markets, "the deal aligns well with its manufacturing push (PLI schemes), export diversification strategy, and ambition to move up the global value chain. For the US, India offers a large, reliable market and a strategic manufacturing alternative in critical sectors."

Talking about the growth trajectory, "The trade deal is structurally positive for India's medium-term growth and external stability. Improved market access and tariff certainty are likely to boost exports, support manufacturing investment, and strengthen inflows of foreign direct investment (FDI)."

The report also outlines that "the US-India trade deal is particularly positive for export-oriented sectors with meaningful exposure to the US market. Sectors such as textiles, chemicals, pharmaceuticals, auto ancillaries, IT services and select industrials stand to benefit from improved market access, tariff rationalisation and greater supply-chain certainty."

From the investment point of view, the India-US trade deal should be seen as a medium-term structural positive rather than a short-term trigger. The report also highlights that "sustained execution could meaningfully enhance India's export competitiveness, manufacturing depth, and global integration."

Investors should also focus on companies with strong US exposure, scalable manufacturing capabilities, regulatory compliance strength, and balance-sheet resilience to fully capture the opportunity, says the report.

For equity markets, the deal enhances earnings visibility, supports valuation re-rating--particularly for export-oriented and capex-linked sectors--and reinforces India's positioning as a relatively safe haven among emerging markets.

Talking about India-US trade relations, the report suggests that both countries are entering 'a constructive phase' after a period marked by tariff disputes, regulatory frictions, and global supply-chain realignments.

"With both economies seeking to de-risk supply chains, counter China-centric dependencies, and deepen strategic ties, the proposed US-India trade deal is shaping up as a pivotal catalyst," the report highlights.

On Tuesday, the much-awaited India-US trade deal came into effect, where the US reduced the reciprocal tariff on Indian goods to 18 per cent from the earlier 50 per cent.

Overall, "The trade deal is structurally positive for India's medium-term growth and external stability. Improved market access and tariff certainty are likely to boost exports, support manufacturing investment, and strengthen inflows of foreign direct investment (FDI). Over time, this should help narrow the current account deficit, stabilise the rupee, and reduce India's vulnerability to global shocks," the report concludes.

Life Style and Management

Emotional intelligence is the skill

Emotional intelligence isn’t a “soft skill” anymore.
In 2026, it’s a survival skill.

AI is accelerating. Roles are shifting. Certainty is shrinking.

But one thing is becoming clearer:
The leaders, professionals, and founders who thrive will be those who can manage themselves before they try to manage systems.

Emotional intelligence is the skill that sits underneath every other skill:

When pressure rises, EI determines whether you react or respond.

When feedback comes, EI decides.
whether you grow or get defensive.

When change hits, EI shapes whether you adapt or resist.

In 2026, technical competence will get you in the room.
Emotional intelligence will determine whether you stay relevant.

The real work of EI isn’t motivational quotes or “positive vibes.”
It’s:

Self-awareness when your triggers show up.

Emotional regulation in moments of uncertainty.

Empathy without losing boundaries.

Disciplined consistency when motivation fades.

This is the inner work most people postpone—
and the work that quietly separates high performers from everyone else.

That’s exactly why Growth Cohort 2.0 exists.
Not as a theory class.
Not as a hype space.
But as a structured environment to:

Build emotional discipline.

Strengthen identity-driven habits.

Lead with clarity, not chaos.

Grow personally so your work, career, and leadership can follow.

Jokes All the Way......

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The Institute of Indian Foundrymen 

Western Region

706, Madhava, Bandra-Kurla Complex, Bandra (E), Mumbai-400 051