SteelMint billet index (Exw Raipur) has been assessed at INR 29,700/t (-250), Exw Raipur on 2nd September, 18:00 IST.
- 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 – Three trades were recorded in the 2.30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. One deal was recorded at INR 29,600/t, while one at INR 29,700/t & one deal was at INR 29,800/t. The average price of these two transactions were INR 29,700/t and given a 50% weightage in the final price calculation.
- Other Price Indicators (Firm bids/offers) T2 – There were twelve offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,709/t and given a 50% weightage in the final price calculation.
The final price for billet Exw-Raipur was INR 29,705/t, rounded to INR 29,700/t Exw.
For detailed methodology – 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
Exw–Ex works, DAP- Delivered at Plant Site
Payment within 0-5 days
Basic price in INR/t, excluding GST @ 18%
Source- SteelMint Research
Leave a Reply