SteelMint billet index (Exw Raipur) has been assessed at INR 27,700/t (Exw Raipur) today i.e. 22nd July 2020, as per the following working:-
- 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 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of these, two trades were concluded at INR 27,650/t, while two deals got concluded at INR 27,700/t & two trades were at INR 27,750/t. One deal traded at INR 27,700 EXW Bhilai has been excluded from the final price due to the location. The average price of these six transactions was INR 27,700/t and given a 50% weightage in the final price calculation.
- Other Price Indicators (Firm bids/offers) T2 – There were eleven offers reported in the trading window and considered as T2 inputs. The average price of these was INR 27,664/t and given a 50% weightage in the final price calculation.
The final price for billet ex-Raipur was INR 27,682/t, rounded to INR 27,700/t
From SteelMint Team – While it would be our earnest endeavor, at SteelMint, to bring about transparent and unbiased price index reporting, we would request all our readers and subscribers for their feedback and if they could participate in the reporting of more transactions.
For detailed methodology – click here
Billet prices of all Indian markets click here
T1: Trade
T2: Offer/Bid/Indicative
Offer and Trade reported during 11:00 to 14:30 IST are not considered in the index calculation
Basic price in INR/t, excluding GST @ 18%
Source: SteelMint Research
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