SteelMint: Raipur billet index falls INR 100/t as demand remains sluggish - 19 Aug

SteelMint's daily steel billet index is assessed at INR 43,500/tonne (t) (-INR 100) exw-Raipur on 19 Aug'21.

About 2,650 t of transactions in steel billet were recorded by SteelMint today against 3,100 t on 18 Aug.

The index moved down due to rumours in the market that steel prices are likely to soften further in the coming days on account of falling raw material prices globally, along with the expected easing of supply in the Indian spot market, especially for semi-finished steel products.

• 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) - Four 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 43,500/t, and one deal at INR 43,400/t. The average price of these four transactions was INR 43,500/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Eleven offers reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 43,489/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 43,494/t, rounded to INR 43,500/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative