SteelMint: Billet index rises INR 200/t while trading continues on low key – 28 Jun

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SteelMint’s daily billet index is assessed at INR 41,300/t, exw Raipur, on 28 Jun’21 – up by INR 200/t on day.

SteelMint recorded a total of 2,700 t of transactions in steel billet today against 1,800 t on 26 Jun.

While the index rose, trade volumes remained limited with poor liftoff observed in the finished steel segment due to abysmal buying interest.

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) – Four 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, two trades were recorded at INR 41,300/t and one deal each at INR 41,350/t & INR 41,400/t. The average price of these four transactions was INR 41,344/t and given a 50% weightage in the final price calculation.
Other Price Indicators – bids/offers/indicative (T2) – Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these thirteen was INR 41,300/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 41,322/t, rounded to INR 41,300/t exw.