SteelMint: Raipur billet index stays firm on active demand - 25 Aug
SteelMint’s daily steel billet index is assessed at INR 42,200/tonne (t) (=) exw-Raipur on 25 Aug’21. About 5,000 t of transactions in steel billet were recor...
SteelMint's daily steel billet index is assessed at INR 42,200/tonne (t) (=) exw-Raipur on 25 Aug'21.
About 5,000 t of transactions in steel billet were recorded by SteelMint today against 4,370 t on 24 Aug.
The index remained stable today with active demand in the spot market. In addition, improvement in demand from the western region have been supporting trade volumes in the last couple of 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) - Five 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 two trades were recorded at INR 42,200/t, and one deal each at INR 42,300/t, INR 42,100/t, and INR 42,050/t. The average price of these five transactions was INR 42,098/t and given a 50% weightage in the final price calculation.
- Other Price Indicators - bids/offers/indicative (T2) - Six offers reported in the trading window and considered as T2 inputs. The average price of these six was INR 42,275/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 42,186/t, rounded to INR 42,200/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative