SteelMint's billet index drops INR 250/t amid weak trading activity - 17 Jun

SteelMint's daily billet index is assessed at INR 42,150/t (-250/t), exw Raipur, on 17 Jun'21. Around 3,000 t of transactions in steel billet were recorded today, against 5,220 t yesterday.

The index fell as demand for finished steel products remained weak which, in turn, led to a fall in bids by the re-rollers.

• 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) - Four 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 42,100/t, and one deal each at INR 42,200/t and INR 42,000/t. The average price of these four transactions was INR 42,133/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2) - Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these thirteen was INR 42,150/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,142/t, rounded to INR 42,150/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative