SteelMint’s daily billet index has been assessed at INR 41,250/t (-500) exw Raipur on 7th Apr’21, 18:00 IST.
A total of about 2,300 t billet trades were recorded by SteelMint today, as against 4,300 t yesterday (i.e. 6th Apr), decrease by around 47% on a day basis.
Trade sources highlighted that billet bookings have decreased after the govt announced lockdown in Raipur effective from 9 Apr’21 in order to control the second wave of COVID-19.
- 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) – Six 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 41,300/t & two deals at INR 41,200/t. The average price of these six transactions was INR 41,270/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Eight offers reported in the trading window and considered as T2 inputs. The average price of these eight was INR 41,243/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,256/t, rounded to INR 41,250/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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