SteelMint daily billet index has been assessed at INR 32,900/t (-300), exw Raipur on 7th November, 16:00 IST.
Total of about 600 t billet trades recorded today, as against 1,300 t on yesterday (i.e. 6th Nov).
- 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 am to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 32,800/t & one trade at INR 33,000/t. The average price of these three transactions was INR 32,867/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Eleven offers reported in the trading window and considered as T2 inputs. The average price of these was INR 32,936/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 32,902/t, rounded to INR 32,900/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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