SteelMint’s daily billet index has been assessed at INR 36,950/t (+50) exw Raipur on 18th Feb’21, 18:00 IST. The prices remain supported on the back of active demand from the local & outside buyers. The re-rollers based in Jalna & Hyderabad have actively booked Raipur billets due to competitive price.
A total of about 6,290 t billet trades were recorded today, as against 5,250 t on yesterday (i.e. 17th Feb).
- 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)- Fourteen trades were recorded in the 2:30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, five trades were recorded at INR 37,000/t, four deals at INR 36,900/t, three at INR 36,800/t and one deal each at INR 36,850/t & INR 36,950/t. The average price of these fourteen transactions was INR 36,959/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Eleven offers reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 36,950/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 36954/t, rounded to INR 36,950/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
Leave a Reply