SteelMint billet index falls sharply by INR 500/t as rolling mills slash production - 26 Apr

SteelMint's daily billet index has been assessed at INR 41,000/t (-500) exw Raipur on 26th Apr'21, 18:00 IST.

A total of about 2,670 t billet trades were recorded by SteelMint today, as against 1,800 t on Saturday (i.e. 24th Apr).

The index fell for the second consecutive day on account of weak demand from the rolling mills as demand & production both have dropped significantly due to lockdown, labor & oxygen shortage with plant

• 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) - Seven 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, four trades were recorded at INR 41,000/t, two at INR 41,200/t and one deal at INR 41,300/t. The average price of these seven transactions was INR 41,000/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Fourteen offers reported in the trading window and considered as T2 inputs. The average price of these fourteen was INR 41,033/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 41,017/t, rounded to INR 41,000/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative