SteelMint’s daily billet index has been assessed at INR 40,900/t (-1,000) exw Raipur on 20th Apr’21, 18:00 IST.
A total of about 2,960 t billet trades were recorded by SteelMint today, as against 2,720 t yesterday (i.e. 19th Apr).
The billet prices have fallen as demand from rolling mills continued to remain poor on account of poor off take of finished products owing to lockdown restrictions across regions.
- 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 pm 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 41,000/t, two deals at INR 40,900/t & two at INR 40,800/t. The average price of these six transactions was INR 40,908/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 40,925/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 40,917/t, rounded to INR 40,900/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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