SteelMint daily billet index has been assessed at INR 35,450/t (-150) exw Raipur on 28th Jan’21, 18:00 IST.
A total of about 1,300 t billet trades were recorded today, as against 2,450 t yesterday (i.e. 27th Jan).
- 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 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 35,700/t & one deal each at INR 35,400/t, INR 35,500/t & INR 35,600/t. The average price of these five transactions was INR 35,478/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 eleven was INR 35,456/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 35,467/t, rounded to INR 35,450/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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