SteelMint’s daily steel billet index is assessed at INR 41,400/ton (t) (+ INR 700/t) exw-Raipur on 9 Dec’21.
About 5,190 t of transactions in billets were recorded by SteelMint today against 6,750 t on 8 Dec.
The index moved north following active demand during the first half today. However, decline in offers in the northern region, Punjab, has made buyers cautious. As a result, negligible trades were reported during the second half.
- 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 three trades were recorded at INR 41,500/t, and one deal each at INR 41,550/t, INR 41,400/t, INR 41,300/t, and INR 41,200/t. The average price of these seven transactions was INR 41,406/t and given a 50% weightage in the final price calculation. Apart from this one trade was recorded at INR 41,700/t at 14:00 pm but was excluded due to timing.
- Other Price Indicators – bids/offers/indicative (T2) – Six offers reported in the trading window and considered as T2 inputs. The average price of these six was INR 41,440/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,423/t, rounded to INR 41,400/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
Leave a Reply