SteelMint billet index (Exw Raipur) has been assessed at INR 29,150/t (+150), Exw Raipur on 28th August, 18:00 IST.
- 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 – Nine trades were recorded in the 2.30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, four trades were recorded at INR 29,000/t, while three deals reported at INR 29,100/t & two deals were at INR 29,200/t. The average price of these nine transactions was INR 29,100/t and given a 50% weightage in the final price calculation.
- Other Price Indicators (Firm bids/offers) T2 – There were five offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,160/t and given a 50% weightage in the final price calculation.
The final price for billet Exw-Raipur was INR 29,130/t, rounded to INR 29,150/t Exw.
Observations
- Many re-rollers resumed purchase amid expectations of rebound in prices
- Tight availability of sponge iron also supported billet prices
- No viability of outside billet (i.e. Raigarh) due to higher local price
- Outside demand remain active with Raipur billet producers
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
Offer and Trade reported during 11:00 to 14:30 IST are not considered in the index calculation
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