SteelMint: Raipur billet index rises INR 150/t as bids improve

SteelMint's daily steel billet index is assessed at INR 46,050/tonne (t) (+INR 150) exw-Raipur on 1 Nov'21.

About 2,600 t of transactions in billets were recorded by SteelMint today against 2,100 t on 30 Oct.

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) - Nine 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 five trades were recorded at INR 46,000/t, three deals at INR 46,100/t, and one deal at INR 46,200/t. The average price of these nine transactions was INR 46,069/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Eight offers reported in the trading window and considered as T2 inputs. The average price of these eight was INR 46,050/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 46,060/t, rounded to INR 46,050/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative