SteelMint daily billet index has been assessed at INR 42,550/t (+550) exw Raipur on 8th May’21, 16:00 IST.
A total of about 1,900 t billet trades were recorded by SteelMint today as against 4,200 t yesterday i.e. 7th May.
The index rebounded following active demand & expected power cut in Raigarh, Pujipatra based plants through the Jindal Power (Raigarh which is known as major billet supplier in Raipur). Thus, the suppliers in Raipur have kept prices on the higher side on expectations of supply shortage in near short term.
- 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) – Three trades were recorded in the 11:30 am to 3:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 42,500/t and one deal at INR 42,600/t. The average price of these six transactions was INR 42,537/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 42,544/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 42,541/t, rounded to INR 42,550/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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