SteelMint billet index increases by INR 150/t – 1 Apr

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SteelMint’s daily billet index has been assessed at INR 41,400/t (+150) exw Raipur on 1st Apr’21, 18:00 IST.

A total of about 6,220 t billet trades were recorded by SteelMint today, as against 8,910 t yesterday (i.e. 31st Mar).

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) – Seven 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, three trades were recorded at INR 41,300/t, two deals at INR 41,400/t, one deal at INR 41,350/t & one at INR 41,200/t. The average price of these seven transactions was INR 41,348/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 41,411/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 41,379/t, rounded to INR 41,400/t exw.