SteelMint billet index increases by INR 500/t, trade volumes improve - 5 Mar

SteelMint daily billet index has been assessed at INR 38,500/t (+500) exw Raipur on 5th Mar'21, 18:00 IST.

A total of about 7,420 t billet trades were recorded by SteelMint today, which is up by 14%, d-o-d, compared to 6,500 t yesterday (i.e. 4th Mar). Trade sources reported demand remains active from the local & outside buyers and healthy deals reported for Hyderabad, Southern India.

• 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) - Thirteen 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, eight trades were recorded at INR 38,500/t & five deals at INR 38,400/t. The average price of these thirteen transactions was INR 38,474/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Eight offers reported in the trading window and considered as T2 inputs. The average price of these eight was INR 38,483/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 38,479/t, rounded to INR 38,500/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative