SteelMint’s daily billet index has been assessed at INR 41,300/t (+400) exw Raipur on 21st Apr’21, 18:00 IST.
A total of about 3,850 t billet trades were recorded by SteelMint today, as against 2,960 t yesterday (i.e. 20th Apr).
Trade participants reported, the manufacturers have raised offers to secure falling margins, also the inquiries improved today, hence the prices slightly surged after a sharp fall seen in last few days.
- 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) – Ten 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, four trades were recorded at INR 41,300/t, three deals at INR 41,200/t, two at INR 41,500/t & one at INR 41,250/t. The average price of these ten transactions was INR 41,281/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Fourteen offers reported in the trading window and considered as T2 inputs. The average price of these fourteen was INR 41,275/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,278/t, rounded to INR 41,300/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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