SteelMint's billet index falls INR 300/t on soft finished steel demand - 21 Jun

SteelMint's daily billet index is assessed at INR 42,400/t (-300/t), exw Raipur, on 21 Jun'21. Around 2,210 t of transactions in steel billet were recorded today against 3,350 t on Saturday i.e. 19 Jun.

The index dropped on account of limited buying, as a majority of buyers remained in wait-and-watch mode due to unclear market trends amidst poor finished steel demand, especially low demand for rebar.

• 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, three trades were recorded at INR 42,400/t and one deal each at INR 42,300/t & INR 42,500/t. The average price of these five transactions was INR 42,414/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 42,435/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 42,424/t, rounded to INR 42,400/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative