SteelMint: Raipur billet index falls INR 100/t on limited inquiries - 25 Sep

SteelMint's daily steel billet index is assessed at INR 42,400/tonne (t) (-INR 100) exw-Raipur on 25 Sep'21.

About 1,560 t of transactions in billets were recorded by SteelMint today against 4,940 t on 24 Sep.

The index fell due to lower bids and limited participation amidst unclear market trend. Most of the industry leaders believe sponge iron supply will ease in the coming days which will likely keep billet prices under pressure while others are of the view that higher coal prices and improved finished steel demand with the offset of the monsoon may support billet 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) - Seven 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 42,500/t, one at INR 42,450/t and one deal each at INR 42,400/t, INR 42,300/t & INR 42,200/t. The average price of these seven transactions was INR 42,366/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Nine offers reported in the trading window and considered as T2 inputs. The average price of these nine was INR 42,443/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,404/t, rounded to INR 42,400/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative