SteelMint daily billet index has been assessed at INR 39,800/t exw Raipur (+250), on 1st Jan’21, 17:00 IST.
Trade activities were limited today due to holiday mood, however the participants are assuming pick up in demand in a couple of days. This may further increase in prices due to sharp surge in prices by primary steel mills.
Total of about 1,450 t billet trades recorded today, as against 3,000 t on yesterday (i.e. 31st 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)- Five trades were recorded in the 2:30 pm to 4.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, three trades were recorded at INR 39,800/t, one at INR 39,700/t & one deal at INR 40,000/t. The average price of these five transactions was INR 39,820/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Seven offers reported in the trading window and considered as T2 inputs. The average price of these was INR 39,829/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 39,824/t, rounded to INR 39,800/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
Leave a Reply