SteelMint: Raipur billet index falls INR 300/t on low bids - 13 Oct

SteelMint's daily steel billet index is assessed at INR 48,500/tonne (t) (-INR 300) exw-Raipur on 13 Oct'21.

About 4,520 t of transactions in billets were recorded by SteelMint today against 3,660 t on 12 Oct.

The index dropped further due to low bids as buyers remained cautious in booking material at high offers which coupled with the ongoing festive mood, impacted market activities in a few locations.

• 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) - Eleven 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 four trades were recorded at INR 48,500/t, two deals at INR 48,300/t, and one deal each at INR 48,600/t, INR 48,550/t, INR 48,450/t, INR 48,400/t, and INR 48,200/t. The average price of these eleven transactions was INR 48,499/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Ten offers reported in the trading window and considered as T2 inputs. The average price of these ten was INR 48,525/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 48,512/t, rounded to INR 48,500/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative