SteelMint daily billet index has been assessed at INR 38,000/t (-300) exw Raipur on 4th Mar’21, 18:00 IST.
A total of about 6,500 t billet trades were recorded today, as against 1,100 t yesterday (i.e. 3rd Mar), surge around 6-times on a day basis. Trade sources highlighted that billet bookings have increased over fall in prices.
- 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)- Ten 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, six trades were recorded at INR 37,900/t, two at INR 38,800/t & two deals at INR 38,850/t. The average price of these ten transactions was INR 37,921/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 38,038/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 37,979/t, rounded to INR 38,000/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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