SteelMint’s daily billet index is assessed at INR 41,900/tonne (+INR 200) exw-Raipur on 19 Jul’21.
In all, about 4,600 t of transactions in steel billets were recorded by SteelMint today as against 1,400 t on 17 Jul.
The index remains supported as demand continues to remain active, with market participants hoping that prices should not reverse downwards due to production curbs, which have affected supply in the spot semis market, especially in the central and eastern regions of the country.
- 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) – Six 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 41,900/t, two at INR 41,800/t and one deal each at INR 41,750/t & INR 41,700/t. The average price of these six transactions was INR 41,881/t and given a 50% weightage in the final price calculation. Apart from this one trade was recorded at INR 41,500/t at 13:00 pm but was excluded due to timing.
- Other Price Indicators – bids/offers/indicative (T2) – Twelve offers reported in the trading window and considered as T2 inputs. The average price of these twelve was INR 41,891/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,886/t, rounded to INR 41,900/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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