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SteelMint: Raipur billet index stable despite fall in transactions - 15 Sep

SteelMint’s daily steel billet index is assessed at INR 42,000/tonne (t) (=) exw-Raipur on 15 Sep’21. About 2,950 t of transactions in billets were recorded by...

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15 Sep 2021, 18:20 IST
SteelMint: Raipur billet index stable despite fall in transactions - 15 Sep

SteelMint's daily steel billet index is assessed at INR 42,000/tonne (t) (=) exw-Raipur on 15 Sep'21.

About 2,950 t of transactions in billets were recorded by SteelMint today against 4,120 t on 14 Sep.

The index remains supported despite fall in trade volumes as demand remains active with mid-sized plants.

SteelMint reported yesterday that spot supply of billets is likely to drop, as one of the major producers from Raigarh in central India has reported a fall in production figures. Hence, the buying interest has shifted to the smaller players, although prices remained strong in today's trade.

  • 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) - Seven 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 42,000/t, two deals at INR 42,100/t, and one deal each at INR 41,900/t, and INR 41,800/t. The average price of seven eight transactions was INR 42,013/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 41,971/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 41,992/t, rounded to INR 42,000/t exw.

Click for detailed methodology

T1: Trade
T2: Offer/Bid/Indicative

 

15 Sep 2021, 18:20 IST

 

 

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