SteelMint’s daily billet index has been assessed at INR 40,200/t (-400) exw Raipur on 27th May’21, 18:00 IST.
The index dropped to around 48 days low as the previous low price recorded at INR 40,000/t exw on 9th Apr’21.
Today, trade volumes also declined by 45% to 2,800 t as against 5,100 t yesterday i.e. 26th May. Dull domestic finished steel demand continued to weigh on semis prices in Indian market.
- 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 pm to 5:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, four trades were recorded at INR 40,200/t and one deal at INR 40,300/t. The average price of these five transactions was INR 40,218/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Ten offers reported in the trading window and considered as T2 inputs. The average price of these ten was INR 40,170/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 40,194/t, rounded to INR 40,200/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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