SteelMint billet index drops by INR 50/t – 4 May

—

SteelMint’s daily billet index has been assessed at INR 42,450/t (-50) exw Raipur on 4th May’21, 18:00 IST.

A total of about 4,200 t billet trades were recorded by SteelMint today, as against 4,700 t yesterday (i.e. 3rd 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) – Eight 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 42,400/t, two deals at INR 42,300/t, one at INR 42,200/t and one deal each at INR 42,500/t & INR 42,600/t. The average price of these eight transactions was INR 42,369/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 42,500/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 42,435/t, rounded to INR 42,450/t exw.