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SteelMint: Raipur billet index rises by INR 300/t on active trading - 14 Sep

SteelMint’s daily steel billet index is assessed at INR 42,000/tonne (t) (+INR 300) exw-Raipur on 14 Sept’21. About 4,120 t of transactions in billets were rec...

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14 Sep 2021, 18:38 IST
SteelMint: Raipur billet index rises by INR 300/t on active trading - 14 Sep

SteelMint's daily steel billet index is assessed at INR 42,000/tonne (t) (+INR 300) exw-Raipur on 14 Sept'21.

About 4,120 t of transactions in billets were recorded by SteelMint today against 5,970 t on 13 Sept.

The index rallied following active demand as well expectations of slight supply shortage in the coming days, as a major Raigarh-based supplier has reported a fall in production by 40%. As a result, all other suppliers are keeping prices strong.

  • 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) - Eight 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 four trades were recorded at INR 42,000/t, and one deal each at INR 41,950/t, INR 41,900/t, INR 41,800/t, and INR 41,700/t. The average price of these eight transactions was INR 41,969/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 41,983/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 41,976/t, rounded to INR 42,000/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative

 

14 Sep 2021, 18:38 IST

 

 

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