SteelMint: Raipur billet index falls slightly on limited enquiries - 14 Dec

SteelMint's daily steel billet index is assessed at INR 42,550/tonne (t) (-INR 50) exw-Raipur on 14 Dec'21.

About 3,670 t of transactions in billets were recorded by SteelMint today against 7,920 t on 13 Dec.

The index fell slightly on account of limited demand and poor enquiries for finished steel products. Thus, bids continued to remain low, resulting in a decline in prices.

• 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 42,600/t, two at INR 42,700/t, two deals at INR 42,500/t and one deal at INR 42,550/t. The average price of these eight transactions was INR 42,571/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 42,570/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,570/t, rounded to INR 42,550/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative