SteelMint daily billet index has been assessed at INR 29,000/t (-150), exw Raipur on 28th 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 – 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 which, four trades were recorded at INR 29,000/t, while one deal at INR 28,800/t, one at INR 28,900/t & one at INR 29,150/t. The average price of these seven transactions were INR 28,979/t and given a 50%
- 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 28,979/t and given a 50% weightage in the final price calculation.
The final price for billet Exw Raipur was at INR 28,979/t, rounded to INR 29,000/t Exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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