SteelMint daily billet index has been assessed at INR 31,250/t (0), exw Raipur on 24th October, 16:00 IST.
Total of about 900 t billet trades recorded today, as against 3,300 t yesterday (i.e. 23rd Oct).
- 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 11.30 to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. One trade was recorded at INR 31,200/t, one trade at INR 31,250/t & one deal at INR 31,400/t. The average price of these three transactions was INR 31,283/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Fourteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 31,250/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 31,267/t, rounded to INR 31,250/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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