SteelMint: Raipur billet index falls marginally, demand remains subdued - 30 Nov

SteelMint's daily steel billet index is assessed at INR 41,400/tonne (t) (-INR 50/t) exw-Raipur on 30 Nov'21.

About 5,000 t of transactions in billets were recorded by SteelMint today against 6,060 t on 29 Nov.

The index corrected slightly due to slow buying in the late hours, as trends turned sluggish with market chatter that recent price reductions in pellet and iron ore lumps in central India may soon result in a reduction in prices of 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) - Eight 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 41,600/t, two deals at INR 41,500/t, and one deal each at INR 41,450/t, INR 41,400/t, and INR 41,300/t. The average price of these eight transactions was INR 41,395/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 41,425/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 41,410/t, rounded to INR 41,400/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative