SteelMint’s daily billet index has been assessed at INR 41,500/t (-350) exw Raipur on 24th Apr’21, 16:00 IST.
A total of about 1,800 t billet trades were recorded by SteelMint today, as against 6,170 t yesterday (i.e. 23rd Apr).
The index fell due to weak demand along with unclear market trends. Thus, major buyers are holding fresh bookings, resulting in limited spot trades.
- 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) – Five 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 41,500/t, one at INR 41,400/t and one deal at INR 41,900/t. The average price of these five transactions was INR 41,446/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 41,600/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,523/t, rounded to INR 41,500/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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