SteelMint’s daily billet index has been assessed at INR 39,050/t (+500), exw Raipur on 26th December, 16:00 IST. The prices continued to rise on account of strong demand from the wire rod & patra mills. Amid a constant surge in HR coil price, majority of pipe mills turned towards patra consumption to balance higher input cost. In line with it, wire rod demand is reported good from the domestic & neighboring nations, keeping billet trades active.
Total of about 5,400 t billet trades recorded today, as against 4,900 t on Thursday (i.e. 24th Dec).
- This index has been derived based on transactions, offers, bids and indicative price data sets. Transactions are considered as T1 and given a weightage of 50% whereas other data sets are considered as T2 and given a weightage of the balance 50%.
- Transactions (T1)- Eleven trades were recorded in the 11:30 am to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, four trades were recorded at INR 39,000/t, three at INR 39,100/t, two at INR 38,900/t & one deal each at INR 39,200/t and INR 39,050/t. The average price of these eleven transactions was INR 39,030/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 39,089/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 39,060/t, rounded to INR 39,050/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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