SteelMint billet index falls by INR 700/t, trades improve - 19 May

SteelMint's daily billet index has been assessed at INR 42,100/t (-700) exw Raipur on 19th May'21, 18:00 IST.

The index has dropped further, however buying inquiries improved slightly as a total of about 4,000 t billet trades were recorded by SteelMint today as against 1,620 t yesterday i.e. 18th May.

• 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, four trades were recorded at INR 42,000/t and one deal at INR 42,100/t. The average price of these five transactions was INR 42,125/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Six offers reported in the trading window and considered as T2 inputs. The average price of these six was INR 42,040/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,083/t, rounded to INR 42,100/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative