SteelMint’s daily billet index has been assessed at INR 42,500/t (+1,600) exw Raipur on 15th Apr’21, 18:00 IST.
A total of about 9,600 t billet trades were recorded by SteelMint today, as against 2,600 t yesterday (i.e. 14th Apr), surge around 3.5-times on a day basis.
Trade sources highlighted that billet demand improved from the outside buyers i.e. Maharashtra on account of lower melting productions in the state. Also, with sharp hike in sponge iron offers, the re-rollers are taking positions to stock raw materials.
- 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 pm 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 42,500/t, two deals at INR 42,400/t, two at INR 42,000/t, one at INR 42,300/t and three deals each at INR 42,100/t & INR 42,200/t. The average price of these sixteen transactions was INR 42,468/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Nine offers reported in the trading window and considered as T2 inputs. The average price of these nine was INR 42,538/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 42,503/t, rounded to INR 42,500/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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