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Malco Energy Ltd., a wholly-owned subsidiary of Vedanta Ltd. in Gujarat, has put up an auction notice for sale of 10,000 t of low-ash (12.5%, CSR 65 min) met coke of size 20-90mm. If a buyer requires conversion of standard 20-90mm product into sized product of sizes such as 20-50/20-60/30-60/40-60mm then INR 1,000/t discount will be given on auction price, the auction notice states.

Jindal SAW has increased pellet (Fe 63%) offers by INR 900/t ($12/t) today to INR 12,600/t ($169/t) DAP Kandla compared to INR 11,700/t ($157/t) in end-Dec'21. Around 10,000-15,000 t of deals were recorded at INR 12,600/t during the present assessment period. A hike in pellet offers in eastern India following the rally in sponge iron prices resulted in the increase in offers by Jindal SAW, SteelMint understands.

HR strip (patra) prices increased by INR 700/t d-o-d in Raipur on 24 Jan'22 on improved sales. Current offers for base grade patra (148-200 mm, 2mm thick) are assessed at INR 51,000/t exw-Raipur, while prices are assessed at INR 51,800/t exw-Mandi Gobindgarh - up INR 500/t. Prices do not include GST at 18%.

ERW patra pipe prices increased by INR 300/t in Raipur owing to hike in raw material costs. Current offers for base grade ERW pipe (41-60 OD) are assessed at INR 52,100/t exw-Raipur. Pipe prices are assessed at INR 53,500/t exw-Mandi Gobindgarh, up INR 200/t d-o-d. SteelMint reported pipe prices in Raipur at INR 51,100/t last week - higher by INR 1,000/t w-o-w. Prices exclude GST.

Heavy structural steel prices in Raipur, central India remain stable on 24 Jan'22 at INR 52,600/t exw for basic size i.e. 150mm channel. Positive sentiments in the semi-finished steel market and limited trading in structural steel in the last trading session on 22 Jan offered support to manufacturers to keep offers stable. Trade discounts may fluctuate depending on buying enquiries and are at around INR 700-900/t.

Toyota has announced suspension of operations at 21 production lines in 11 of its 14 factories owing to a sudden hike in Omicron cases, as per SteelDaily. The decision is expected to disrupt production of a total of 47,000 units and may further tighten shindachi grade scrap supply. Toyota's global production is expected to fall short of its fiscal target of 9 million units due to tight semiconductor supply .

Melting scrap prices in Gujarat's Alang market increased by INR 100/t on 24 Jan'22. Heavy melting scrap(HMS 80:20) prices are assessed at INR 38,600/t exw, while attachment prices are at INR 39,600/t exw. A marginal rise in prices in the last trading session and hike in semi-finished steel prices in the region led scrap suppliers to raise offers today.