SteelMint daily billet index has been assessed at INR 28,950/t (+50), exw Raipur on 30th September, 18:00 IST. Total of about 5,090 t billet trades recorded in this publishing window, in which over 40% volumes were booked by pipe/patra mills.
- 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 – Eleven 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 28,900/t, while two deals at INR 28,950/t, two deals at INR 29,000/t, one at INR 29,100/t, one at INR 29,200/t & one at INR 29,300/t. The average price of these eleven transactions were INR 28,964/t and given a 50%.
- 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 28,973/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 28,968/t, rounded to INR 28,950/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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