SteelMint billet index fall further by INR 800/t - 9 Apr

SteelMint’s daily billet index has been assessed at INR 40,000/t (-800) exw Raipur on 9th Apr’21, 18:00 IST.

A total of about 3,780 t billet trades were recorded by SteelMint today, as against 2,050 t yesterday (i.e. 8th Apr).

Industry sources stated, amidst limited demand the suppliers are in hurry to sell the material, which led to a significant drop in prices.

• 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) �" Six trades were recorded in the 2:30 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 40,000/t, one at INR 40,200/t and one deal each at INR 40,100/t, INR 39,900/t & INR 39,800/t. The average price of these six transactions was INR 40,001/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 40,000/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 40,001/t, rounded to INR 40,000/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative