SteelMint billet index drop further by INR 400/t on poor demand from rolling mills - 27 Apr

SteelMint's daily billet index has been assessed at INR 40,600/t (-400) exw Raipur on 27th Apr'21, 18:00 IST.

A total of about 1,700 t billet trades were recorded by SteelMint today, as against 2,670 t yesterday (i.e. 26th Apr).

The index falling continuously on the back of limited demand as rolling mills are holding purchases of raw materials due to poor off take & decline in productions.

• 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) - Four trades were recorded in the 2:30 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 40,500/t, one at INR 40,700/t and one deal at INR 40,800/t. The average price of these four transactions was INR 40,600/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these thirteen was INR 40,640/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 40,620/t, rounded to INR 40,600/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative