SteelMint: Raipur billet index rebounds as trade picks up - 14 Oct

SteelMint's daily steel billet index is assessed at INR 48,900/tonne (t) (+INR 400) exw-Raipur on 14 Oct'21.

About 5,925 t of transactions in billets were recorded by SteelMint today against 4,520 t recorded on 13 Oct.

The index rebounded as trading activity improved following a recovery in finished steel trade especially in wire rods with trade discounts continuing trending down.

Participants remained optimistic in terms of billets price movement on account of active demand along with power cuts in Raigarh which is the major supplier of billets to the Raipur market.

• 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) - Seven 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 48,800/t, two deals at INR 48,900/t, and one deal at INR 49,000/t. The average price of these seven transactions was INR 48,895/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these thirteen was INR 48,900/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 48,897/t, rounded to INR 48,900/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative