SteelMint: Raipur billet index stable on bid-offer disparity - 17 Aug

SteelMint's daily steel billet index is assessed at INR 43,700/tonne (t) (=) exw-Raipur on 17 Aug'21.

About 3,400 t of transactions in steel billets were recorded by SteelMint today against 7,490 t on 16 Aug.

The index witnessed a roll-over today due to limited trade compared to yesterday and with bids inching down by INR 200-300/t as against floated offers. Amidst constant surge in offers, buyers adopted a cautious approach in taking positions vis-a-vis prevailing offers, SteelMint notes.

• 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 2:30 pm to 5:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which four trades were recorded at INR 43,600/t, three deals at INR 43,800/t, and one deal at INR 43,700/t. The average price of these eight transactions was INR 43,704/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 43,729/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 43,716/t, rounded to INR 43,700/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative