SteelMint’s daily billet index is assessed at INR 42,700/t (+400/t), exw Raipur, on 19 Jun’21. Around 3,350 t of transactions in steel billet were recorded today against 4,380 t yesterday.
The index remains supported as local steel plants, members of the Mini Steel Plant Association in Raipur have kept prices strong even though buying remains poor and deals were reported majorly from plants based outside Raipur, such as those in Raigarh, including resellers.
- 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 11:30 am to 3:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, three trades were recorded at INR 42,600/t, and one deal each at INR 42,700/t, INR 42,650/t and INR 42,500/t. The average price of these six transactions was INR 42,635/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 42,800/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 42,718/t, rounded to INR 42,700/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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