SteelMint’s daily billet index has been assessed at INR 41,850/t (-50) exw Raipur on 23rd Apr’21, 18:00 IST.
A total of about 6,170 t billet trades were recorded by SteelMint today, as against 3,700 t yesterday (i.e. 22nd Apr).
The index inched down as demand turned subdued, however producers are keeping prices strong on expectations of disturbed production due to the oxygen crisis and limited labors.
- 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 41,900/t, two deals at INR 41,800/t, one at INR 42,000/t and one deal each at INR 41,500/t & INR 41,600/t. The average price of these eight transactions was INR 41,857/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 41,813/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,835/t, rounded to INR 41,850/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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