SteelMint’s daily steel billet index is assessed at INR 42,750/tonne (t) (=) exw-Raipur on 21 Sep’21.
About 4,940 t of transactions in billets were recorded by SteelMint today against 6,090 t recorded on 20 Sep.
The index stayed firm amidst active demand, higher sponge prices along with subdued market trends as prices are remain volatile in major locations.
- 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 three trades were recorded at INR 42,800/t, three deals at INR 42,700/t, and one deal each at INR 42,750/t, INR 42,650/t, and INR 42,600/t. The average price of these nine transactions was INR 42,751/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Eight offers reported in the trading window and considered as T2 inputs. The average price of these eight was INR 42,775/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 42,763/t, rounded to INR 42,750/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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