SteelMint: Raipur billet index falls INR 200/t in fresh deals - 6 Nov

SteelMint's daily steel billet index is assessed at INR 45,100/tonne (t) (-INR 200) exw-Raipur on 6 Nov'21.

About 2,400 t of transactions in billets were recorded by SteelMint today against 1,300 t on 3 Nov.

The index trended down today due to the festive lull in the market, with trade activities in the spot market remaining a little more constrained than usual. Full-fledged trading is likely to resume from next week, sources informed.

• 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) - Three 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, one trade was recorded at INR 45,200/t, and one deal each at INR 45,100/t, and INR 45,000/t. The average price of these three transactions was INR 45,092/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 45,150/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 45,121/t, rounded to INR 45,100/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative