SteelMint: Raipur billet index edges up on buoyant demand

SteelMint's daily steel billet index is assessed at INR 41,750/tonne (t) (+INR 250) exw-Raipur on 10 Sept'21.

About 3,720 t of transactions in billets were recorded by SteelMint today against 4,990 t on 9 Sept'21.

The index continues to trend up as demand remains supported along with rising prices in the northern region, mainly Punjab.

• 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) - Seven 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 three trades were recorded at INR 41,800/t, and two deals each at INR 41,700/t and INR 41,600/t. The average price of these seven transactions was INR 41,666/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 41,786/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 41,726/t, rounded to INR 41,750/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative