SteelMint billet index increases by INR 600/t, trade volume hit two-months high - 30 Nov

SteelMint daily billet index is assessed at INR 35,200/t (+600), exw Raipur on 30th November, 18:00 IST. Total of about 6,850 t billet trades recorded today, which have hit two-months high. Last highest trade volume of 8,700 t was recorded on 15th Sep'20.

Prevailing positive trends due to expected further hike in finished steel prices by primary mills along with strengthening of raw material prices, resulted in surge in billet prices in Indian domestic market.

• 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 pm to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, five trades were recorded at INR 35,200/t, three each at INR 35,100/t, INR 35,300/t & one trade each at INR 34,800/t & INR 35,400/t. The average price of these thirteen transactions was INR 35,200/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 was INR 35,247/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 35,223/t, rounded to INR 35,200/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative