SteelMint’s daily billet index has been assessed at INR 41,900/t (-850) exw Raipur on 19th Apr’21, 18:00 IST.
A total of about 2,720 t billet trades were recorded by SteelMint today, as against 1,100 t on Saturday (i.e. 17th Apr).
The prices have been falling continuously as production by re-rollers were affected negatively in the local market due to limited availability of labors. Also, demand from neighboring state i.e. Maharashtra cooled down due to the similar reason including shortage of oxygen.
- 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) – Five trades were recorded in the 2:30 am to 5:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 42,000/t, one deal at INR 42,300/t & one deal each at INR 41,600/t & INR 41,900/t. The average price of these five transactions was INR 41,933/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 41,908/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,921/t, rounded to INR 41,900/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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