SteelMint daily billet index has been assessed at INR 34,100/t (+450), exw Raipur on 13th November, 17:00 IST. The prices have been increasing continuously on account of rally in sponge prices amid improved trades, which increased by INR 500-700/t, d-o-d.
Total of about 6,800 t billet trades recorded today, as against 2,300 t yesterday (i.e. 12th 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)- Six trades were recorded in the 2.30 to 5.00 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, four trades were recorded at INR 34,100/t, one deal at INR 34,050/t & one at INR 34,000/t. The average price of these six transactions was INR 34,058/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 34,130/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 34,094/t, rounded to INR 34,100/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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