SteelMint’s daily billet index has been assessed at INR 43,300/t (+800) exw Raipur on 16th Apr’21, 18:00 IST.
A total of about 6,120 t billet trades were recorded by SteelMint today, as against 9,600 t yesterday (i.e. 15th Apr).
The demand remained active from the outside state-based rolling mills i.e. Jalna, Maharashtra, which led to a constant surge in prices in Raipur, Central India. The manufactures have reported deals on premium price by INR 300-500/t for Jalna compared to the deals in the local market i.e. Raipur.
- 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) – Seven 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 43,000/t, two deals at INR 43,300/t & two at INR 43,500/t, one at INR 42,300/t. The average price of these seven transactions was INR 43,300/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Twelve offers reported in the trading window and considered as T2 inputs. The average price of these twelve was INR 43,263/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 43,281/t, rounded to INR 43,300/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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