SteelMint daily billet index has been assessed at INR 33,900/t (-450) exw Raipur on 30th Jan’21, 16:00 IST.
A total of about 2,500 t billet trades were recorded today, as against 1,700 t yesterday (i.e. 29th 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 11:30 am to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Three trades were recorded at INR 34,000/t & one deal each at INR 33,600/t & INR 34,100/t. The average price of these five transactions was INR 33,936/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 33,910/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 33,923/t, rounded to INR 33,900/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
Leave a Reply