SteelMint: Raipur billet index climbs INR 400/t as trade improves further - 28 Sep

SteelMint's daily steel billet index is assessed at INR 43,000/tonne (t) (+INR 400) exw-Raipur on 28 Sep'21.

About 6,910 t of transactions in billets were recorded by SteelMint today against 6,100 t on 27 Sep.

The index rose further following active demand on prevailing optimistic trends. Hence trade happened at higher prices with aggressive buying.

It was also learnt that rebar demand improved slightly at a few locations in the western and eastern parts of the country, which contributed to the positive sentiments in the 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 seven trades were recorded at INR 43,000/t, three deals at INR 42,900/t, two deals at INR 43,100/t, and one deal at INR 43,200/t. The average price of these thirteen transactions was INR 42,967/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Five offers reported in the trading window and considered as T2 inputs. The average price of these five was INR 43,000/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,984/t, rounded to INR 43,000/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative