SteelMint daily billet index has been assessed at INR 35,700/t (-50), exw Raipur on 8th December, 18:00 IST.
Total of about 3,500 t billet trades recorded today, as against 2,250 t on yesterday (i.e. 7th 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)- Five trades were recorded in the 2:30 pm to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, Three trades were recorded at INR 35,800/t, one at INR 35,700/t & one deal at INR 36,000/t. The average price of these five transactions was INR 35,700/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Sixteen offers reported in the trading window and considered as T2 inputs. The average price of these sixteen was INR 35,722/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 35,711/t, rounded to INR 35,700/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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