SteelMint’s daily billet index has been assessed at INR 38,750/t (+450) exw Raipur on 18th Mar’21, 18:00 IST.
A total of about 3,720 t billet trades were recorded by SteelMint today, as against 4,770 t yesterday (i.e. 17th Mar).
The prices remained supported on account of active demand along with sufficient orders among suppliers. In addition to it, rising prices in Northern India was the major factor behind the surge in billet prices in Raipur, Central India.
- 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) – Nine trades were recorded in the 2:30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, five trades were recorded at INR 38,700/t, two deals at INR 38,800/t, one at INR 38,600/t & one deal at INR 38,900/t. The average price of these nine transactions was INR 38,753/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Ten offers reported in the trading window and considered as T2 inputs. The average price of these ten was INR 38,767/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 38,760/t, rounded to INR 38,750/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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