SteelMint: Billet index rises INR 200/t while trading continues on low key - 28 Jun

SteelMint’s daily billet index is assessed at INR 41,300/t, exw Raipur, on 28 Jun’21 �" up by INR 200/t on day.

SteelMint recorded a total of 2,700 t of transactions in steel billet today against 1,800 t on 26 Jun.

While the index rose, trade volumes remained limited with poor liftoff observed in the finished steel segment due to abysmal buying interest.

• 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 41,300/t and one deal each at INR 41,350/t & INR 41,400/t. The average price of these four transactions was INR 41,344/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 41,300/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 41,322/t, rounded to INR 41,300/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative