SteelMint daily billet index has been assessed at INR 34,450/t (+400) exw Raipur on 13th Feb’21, 16:00 IST.
A total of about 1,920 t billet trades recorded today, as against 5,800 t on yesterday (i.e. 12th Feb).
- 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, three trades were recorded at INR 34,500/t & one deal at INR 34,400/t. The average price of these four transactions was INR 34,483/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 34,463/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 34,473/t, rounded to INR 34,450/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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