SteelMint daily billet index has been assessed at INR 37,000/t (+600) exw Raipur on 24th Feb’21, 18:00 IST.
A total of about 8,860 t billet trades were recorded today, as against 4,950 t yesterday (i.e. 23rd Feb). According to the trade sources, decent demand from outside i.e. South & Western India markets, led to a sharp surge in offers and out of the total trades today, about 40% volumes have been booked for outside Raipur market.
- 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)- Eighteen 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, seven trades were recorded at INR 37,000/t, four at INR 37,100/t, one at INR 36,500/t and three deals each at INR 36,800/t & INR 36,900/t. The average price of these eighteen transactions was INR 36,935/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Eight offers reported in the trading window and considered as T2 inputs. The average price of these eight was INR 37,050/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 36,993/t, rounded to INR 37,000/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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