SteelMint’s daily steel billet index for the key central Indian market of Raipur is assessed at INR 42,000/tonne (t) (+INR 300) exw on 19 Nov’21.
About 2,435 t of transactions in billets were recorded by SteelMint today against 2,500 t on 18 Nov’21.
The index rebounded following active enquiries and recovery in trade momentum. The prices moved higher in the first half of today’s trading session; however, sluggish trends later in the day dampened sentiments.
- 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) – Seven 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 five trades were recorded at INR 42,000/t, and one deal each at INR 42,200/t, and INR 42,100/t. The average price of these seven transactions was INR 42,010/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 42,017/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 42,013/t, rounded to INR 42,000/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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