SteelMint: Raipur billet index falls INR 350/t despite rise in trade volumes - 15 Dec

SteelMint's daily steel billet index is assessed at INR 42,200/tonne (t) (-INR 350) exw-Raipur on 15 Dec'21.

About 4,170 t of transactions in billets were recorded by SteelMint today against 3,670 t on 14 Dec.

The index moved down due to weak finished steel demand resulting in lower bids for billet. In addition, with dimished expectations of further price support, a majority of buyers are opting to wait and watch.

• 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 42,200/t, three deals each at INR 42,300/t, and INR 42,100/t, and one deal at INR 41,900/t. The average price of these eleven transactions was INR 42,214/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 42,167/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,190/t, rounded to INR 42,200/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative