SteelMint’s daily billet index has been assessed at INR 39,150/t (+1,000) exw Raipur on 26th Mar’21, 18:00 IST.
A total of about 9,550 t billet trades were recorded by SteelMint today, as against 3,820 t yesterday (i.e. 25th Mar). The prices remained supported on the back of active demand from the strips & patra manufacturers following a surge in HR coil prices.
Major Indian steel manufacturers are planning to raise flat steel prices by up to INR 2,000-3,000/t following bullish trends in the global HRC market, which has further supported market sentiments.
- 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) – Sixteen 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, four trades were recorded at INR 39,000/t, three deals at INR 39,300/t, two at INR 39,400/t and seven deal each at INR 38,700/t, INR 38,800/t, INR 38,850/t, INR 38,900/t, INR 39,050/t, INR 39,100/t & INR 39,200/t. The average price of these sixteen transactions was INR 39,126/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 thirteen was INR 39,127/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 39,127/t, rounded to INR 39,150/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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