SteelMint daily billet index has been assessed at INR 34,350/t (-1,100) exw Raipur on 29th Jan’21, 18:00 IST.
A total of about 1,700 t billet trades were recorded today, as against 1,300 t yesterday (i.e. 28th 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)– Two trades were recorded in the 2:30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. One trade was recorded at INR 34,500/t & one deal at INR 34,250/t. The average price of these two transactions was INR 34,382/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)– Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these thirteen was INR 34,300/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 34,341/t, rounded to INR 34,350/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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