SteelMint: Raipur billet index climbs INR 200/t on surge in buying interest

SteelMint's daily steel billet index is assessed at INR 46,300/tonne (t) (+INR 200) exw-Raipur on 29 Oct'21.

About 5,800 t of transactions in billets were recorded by SteelMint today against 1,950 t on 28 Oct.

The index rose following improved trade enquiries, with prices picking up in north India and buyers placing orders actively.

• 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) - Nine 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 46,200/t, two deals each at INR 46,500/t, and INR 46,300/t. The average price of these nine transactions was INR 46,233/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Six offers reported in the trading window and considered as T2 inputs. The average price of these six was INR 46,317/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 46,275/t, rounded to INR 46,300/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative