SteelMint: Raipur billet index rises marginally as bids improve – 20 Nov

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SteelMint’s daily steel billet index for the central Indian market of Raipur is assessed at INR 42,050/tonne (t) (+INR 50) exw on 20 Nov’21.

About 2,670 t of transactions in billets were recorded by SteelMint today against 2,435 t on 19 Nov.

The index moved up slightly following improvement in bids, which also supported trade volumes today.

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 11:30 am to 3:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, five trades were recorded at INR 42,000/t, and one deal each at INR 42,200/t, and INR 42,100/t. The average price of these seven transactions was INR 42,034/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 42,100/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 42,067/t, rounded to INR 42,050/t exw.