SteelMint billet index up marginally by INR 100/t, trade volumes remain stable – 20 May

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SteelMint’s daily billet index has been assessed at INR 42,200/t (+100) exw Raipur on 20th May’21, 18:00 IST.

The index rose slightly on improved demand, however trade volumes remained lower than the expectations, as mentioned by producers.

A total of about 4,200 t billet trades were recorded by SteelMint today as against 4,000 t yesterday i.e. 19th May.

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) – Seven 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, three trades were recorded at INR 42,300/t, two at INR 42,200/t and one deal each at INR 42,400/t & INR 42,500/t. The average price of these seven transactions was INR 42,282/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 42,133/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 42,208/t, rounded to INR 42,200/t exw.