SteelMint: Raipur billet index rises by INR 450/t - 11 Dec

SteelMint's daily steel billet index is assessed at INR 41,450/tonne (t) (+INR 450) exw-Raipur on 11 Dec'21.

About 2,650 t of transactions in billets were recorded by SteelMint today against 2,900 t on 10 Dec.

The index moved up slightly following improvement in bids, which also supported trade volumes today.

• 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 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 41,500/t, three deals at INR 41,400/t, and one deal each at INR 41,550/t, and INR 41,300/t. The average price of these eight transactions was INR 41,449/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Fourteen offers reported in the trading window and considered as T2 inputs. The average price of these fourteen was INR 41,420/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 41,434/t, rounded to INR 41,450/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative