SteelMint’s daily billet index has been assessed at INR 42,800/t (-700) exw Raipur on 18th May’21, 18:00 IST.
The index has fallen sharply as buying interest remains poor from the local & outside re-rollers, hence sellers aggressively lowered offers to narrow down selling pressure.
A total of about 1,620 t billet trades were recorded by SteelMint today, which is lower by about 50% as against 3,100 t yesterday i.e. 17th 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) – 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. All the three trades were recorded at INR 42,800/t. The average price of these three transactions was INR 42,800/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Nine offers reported in the trading window and considered as T2 inputs. The average price of these nine was INR 42,811/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 42,806/t, rounded to INR 42,800/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
Leave a Reply