SteelMint billet index drops by INR 150/t - 22 Mar

SteelMint's daily billet index has been assessed at INR 38,600/t (-150) exw Raipur on 22nd Mar'21, 18:00 IST.

Market sources are expecting prices to remain volatile on account of subdued demand, fluctuating prices in Punjab, Northern India along with festive holidays in coming days.

A total of about 3,770 t billet trades were recorded by SteelMint today, as against 4,720 t on Saturday (i.e. 20th Mar).

• 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 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 38,700/t, two deals at INR 38,500/t & one deal at INR 38,600/t. The average price of these six transactions was INR 38,618/t and given a 50% weightage in the final price calculation.
  
  
• 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 38,610/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 38,614/t, rounded to INR 38,600/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative