SteelMint: Raipur billet index climbs INR 1,200/t, trades stay firm - 27 Dec

SteelMint's daily steel billet index is assessed at INR 44,000/tonne (t) (+INR 1,200) exw-Raipur on 27 Dec'21.

About 4,170 t of transactions in billets were recorded by SteelMint today against 3,800 t on 24 Dec.

Although the index rallied, trade volumes were more or less stable and enquiries were quite low in the finished steel segment, resulting in measured demand for semis, including billets.

Traders raised discounts for finished steel products to boost sales in the second half of today's trading session. However, they were unable to attract buyers.

Rationale -

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) - Eleven 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 44,000/t, three deals at INR 44,100/t, two deals at INR 44,200/t, and one deal at INR 43,900/t. The average price of these eleven transactions was INR 44,062/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Eleven offers reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 43,978/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 44,020/t, rounded to INR 44,000/t exw.

Click for detailed methodology

T1 - Trade, T2 - Offer/Bid/Indicative, *Normalized price as per methodology