SteelMint’s daily billet index has been assessed at INR 40,900/t (-500) exw Raipur on 25th May’21, 18:00 IST.
The index dropped consecutively for the second day on account of lower bids, limited spot trades on poor off take in finished products, which has kept buyers from taking positions.
A total of about 1,850 t billet trades were recorded by SteelMint today as against 2,000 t yesterday i.e. 24th 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) – Five 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 two trades were recorded at INR 41,000/t, two at INR 40,800/t and one deal at INR 40,900/t. The average price of these five transactions was INR 40,914/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Seven offers reported in the trading window and considered as T2 inputs. The average price of these seven was INR 40,914/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 40,914/t, rounded to INR 40,900/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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