SteelMint: Raipur billet index stable amidst limited transactions - 18 Sep

SteelMint's daily steel billet index is assessed at INR 42,200/tonne (t) (=) exw-Raipur on 18 Sep'21.

About 800 t of transactions in billets were recorded by SteelMint today against 2,250 t on 17 Sep.

The index stayed firm despite limited participation in spot trading today. A majority of buyers and suppliers remained out of the market with the target to conclude deals in the coming week.

Moreover, there was disparity between bids and offers by about INR 300-500/t. As a result, no major deal was recorded 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) - Two 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, one trade was recorded at INR 42,300/t, and one deal at INR 42,200/t. The average price of these two transactions was INR 42,250/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 42,150/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was INR 42,200/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative