SteelMint: Raipur billet index rises INR 200/t, trade volumes stable - 16 Dec

SteelMint's daily steel billet index is assessed at INR 42,400/tonne (t) (+INR 200) exw-Raipur on 16 Dec'21.

About 4,050 t of transactions in billets were recorded by SteelMint today against 4,170 t on 15 Dec.

The index rebounded amidst expectations that it would not drop any further. Thus buyers are booking material as per their needs, resulting in price fluctuations since the last few days.

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 three trades were recorded at INR 42,400/t, three deals each at INR 42,300/t, two deals at INR 42,500/t, and one deal at INR 42,200/t. The average price of these nine transactions was INR 42,367/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Eleven offers reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 42,478/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,422/t, rounded to INR 42,400/t exw.

Click for detailed methodology

T1 - Trade, T2 - Offer/Bid/Indicative, *Normalized price as per methodology