SteelMint: Raipur billet index falls marginally on lower bids - 27 Nov

SteelMint's daily steel billet index is assessed at INR 41,100/tonne (t) (-INR 100/t) exw-Raipur on 27 Nov'21.

About 2,400 t of transactions in billets were recorded by SteelMint today, the same as yesterday.

The index fell slightly on account of lower bids. Amidst unclear market sentiments, a majority of buyers stayed on the sidelines, resisting from taking positions, as finished steel demand continues to remain subdued, SteelMint notes.

• 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) - Four 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 41,100/t, and one deal at INR 41,000/t. The average price of these four transactions was INR 41,071/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Sixteen offers reported in the trading window and considered as T2 inputs. The average price of these sixteen was INR 41,154/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 41,112/t, rounded to INR 41,100/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative