SteelMint’s daily billet index is assessed at INR 41,500/t (-100), exw Raipur, on 25 Jun’21. Around 3,450 t of transactions in steel billet were recorded today against 2,400 t yesterday.
Weak demand in the finished steel segment continues to weigh on Indian billet prices. Therefore, the index keeps trending down even though trade volumes have picked up by as much as 44% on a daily basis.
- 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) – Five 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 41,650/t, INR 41,600/t and INR 41,500/t. The average price of these five transactions was INR 41,522/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Nine offers reported in the trading window and considered as T2 inputs. The average price of these nine was INR 41,517/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,519/t, rounded to INR 41,500/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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