SteelMint: Raipur billet index drops INR 100/t on limited bids - 18 Aug

SteelMint's daily steel billet index is assessed at INR 43,600/tonne (t) (-INR 100) exw-Raipur on 18 Aug'21.

About 3,100 t of transactions in steel billet were recorded by SteelMint today against 3,400 t on 17 Aug.

The index witnessed a fall following limited demand as buyers seemed cautious about booking material despite healthy transactions in the last two-three days.

• 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) - Eight 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 four trades were recorded at INR 43,600/t, three deals at INR 43,500/t, and one deal at INR 43,550/t. The average price of these eight transactions was INR 43,575/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Eight offers reported in the trading window and considered as T2 inputs. The average price of these eight was INR 43,592/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 43,583/t, rounded to INR 43,600/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative