SteelMint: Raipur billet index increases INR 600/t on active demand - 16 Oct

SteelMint's daily steel billet index is assessed at INR 49,500/tonne (t) (+INR 600) exw-Raipur on 16 Oct'21.

About 3,100 t of transactions in billets were recorded by SteelMint today against 5,925 t recorded on 14 Oct.

The index headed northwards following active demand and slight supply shortage of billets amidst optimistic trends. A few billet suppliers have undertaken production cuts at their mills as they are planning to divert power to other consumers in exchange owing to good realisations.

• 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, two trades were recorded at INR 49,400/t, and one deal each at INR 49,600/t and INR 49,500/t. The average price of these four transactions was INR 49,471/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 49,513/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 49,492/t, rounded to INR 49,500/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative