SteelMint: Raipur billet index falls by INR 450/t on low buying - 4 Dec

SteelMint's daily steel billet index is assessed at INR 39,750/tonne (t) (- INR 450/t) exw-Raipur on 4 Dec'21.

About 2,000 t of transactions in billets were recorded by SteelMint today against 2,720 t on 3 Dec.

The index headed south on persistent weak demand and lack of confidence among market participants as to whether the market will sustain or not. Thus, spot buying remained poor in major markets including Raipur.

• 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) - Six trades were recorded in the 11:30 am to 3:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which three trades were recorded at INR 39,800/t, two deals at INR 39,600/t, and one deal at INR 39,700/t. The average price of these six transactions was INR 39,675/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Fifteen offers reported in the trading window and considered as T2 inputs. The average price of these fifteen was INR 39,855/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 39,765/t, rounded to INR 39,750/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative