SteelMint’s daily billet index has been assessed at INR 41,600/t (+400) exw Raipur on 1st May’21, 16:00 IST.
A total of about 4,000 t billet trades were recorded by SteelMint today, as against 3,700 t yesterday (i.e. 30th Apr).
The index remains strong on account of active demand from the local & outside states. Thus, the suppliers have raised their offers according to acceptance.
- 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) – Three trades were recorded in the 11:30 am to 3:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 41,500/t and one deal at INR 41,600/t. The average price of these four transactions was INR 41,583/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 41,600/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,591/t, rounded to INR 41,600/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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