SteelMint: Raipur billet index rises INR 400/t as suppliers remain inactive - 17 Sep

SteelMint's daily steel billet index is assessed at INR 42,200/tonne (t) (+INR 400) exw-Raipur on 17 Sep'21.

About 2,250 t of transactions in billets were recorded by SteelMint today against 2,875 t on 16 Sep.

The index rebounded as there were limited suppliers in the Raipur market due to Vishwakarma Puja today, while a few buyers were aggressive in booking material. Thus, the deals were settled at higher offers floated by a few suppliers from outside Raipur.

• 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) - Three 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 one trade was recorded at INR 42,400/t, and one deal each at INR 42,200/t, and INR 42,000/t. The average price of these three transactions was INR 42,160/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 42,230/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,195/t, rounded to INR 42,200/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative