SteelMint: Raipur billet index climbs INR 550/t on renewed buying - 20 Sep

SteelMint's daily steel billet index is assessed at INR 42,750/tonne (t) (+INR 550) exw-Raipur on 20 Sep'21.

About 6,090 t of transactions in billets were recorded by SteelMint today against 800 t recorded on 18 Sep.

The index increased sharply on improved demand. Last week, trade activities were paused due to the festive mood, SteelMint had reported. Hence, with resumption of activities, spot trade has improved rigorously resulting in a spike in prices.

• 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) - Twelve 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 six trades were recorded at INR 42,800/t, three deals at INR 42,900/t, and one deal each at INR 43,000/t, INR 42,750/t, and INR 42,600/t. The average price of these twelve transactions was INR 42,773/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Ten offers reported in the trading window and considered as T2 inputs. The average price of these ten was INR 42,757/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,765/t, rounded to INR 42,750/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative