SteelMint’s daily billet index is assessed at INR 40,600/t (+150) exw-Raipur on 9 Jul’21.
In all, about 4,790 t of transactions in steel billet were recorded by SteelMint today as against 2,435 t on 8 Jul.
The index rose slightly following active demand. Sources, however, opine that prices are likely to fluctuate as supply remains moderate along with stable raw materials prices.
- 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 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 40,500/t, three deals at INR 40,600/t and two deals at INR 40,700/t. The average price of these nine transactions was INR 40,555/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Ten offers reported in the trading window and considered as T2 inputs. The average price of these ten was INR 40,600/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 40,577/t, rounded to INR 40,600/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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