SteelMint billet index rises further by INR 300/t on active demand - 29 Apr
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SteelMint's daily billet index has been assessed at INR 41,200/t (+300) exw Raipur on 29th Apr'21, 18:00 IST.
A total of about 3,200 t billet trades were recorded by SteelMint today, as against 7,200 t yesterday (i.e. 28th Apr).
The index remains strong on account of active demand from the local & outside (Maharashtra & Punjab) states. Thus, the suppliers have raised their offers according to acceptance.
- 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) - Three 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, two trades were recorded at INR 41,200/t and one deal at INR 41,100/t. The average price of these three transactions was INR 41,200/t and given a 50% weightage in the final price calculation.
- Other Price Indicators - bids/offers/indicative (T2) - Nine offers reported in the trading window and considered as T2 inputs. The average price of these nine was INR 41,217/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,208/t, rounded to INR 41,200/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
