SteelMint’s billet index moves up INR 200/t despite subdued trade – 4 Jun

—

SteelMint’s daily billet index is assessed at INR 43,600/t, exw Raipur, on 4 Jun’21 – up by INR 200/t on day.

SteelMint recorded a total of 1,020 t of trade in steel billets today against 1,500 t yesterday.

While the index climbed, trade volumes remained limited with poor lift off in the finished steel segment owing to high offers.

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 2:30 pm to 5:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, one trade was recorded at INR 43,800/t, one at INR 43,700/t and one deal at INR 43,450/t. The average price of these three transactions was INR 43,548/t and given a 50% weightage in the final price calculation.
Other Price Indicators – bids/offers/indicative (T2) – Eleven offers reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 43,633/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 43,591/t, rounded to INR 43,600/t exw.