SteelMint daily billet index has been assessed at INR 35,100/t (-350), exw Raipur on 5th December, 16:00 IST.
Total of about 2,200 t billet trades recorded today, as against 2,350 t on yesterday (i.e. 4th Dec).
- 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)- Four 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, one trade each recorded at INR 35,000/t, INR 35,100/t, INR 35,200/t & INR 35,300/t. The average price of these four transactions was INR 35,150/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Fifteen offers reported in the trading window and considered as T2 inputs. The average price of these fifteen was INR 35,093/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 35,122/t, rounded to INR 35,100/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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