SteelMint daily billet index has been assessed at INR 38,100/t (+400) exw Raipur on 9th Mar’21, 18:00 IST.
A total of about 6,480 t billet trades were recorded by SteelMint today, as against 3,920 t yesterday (i.e. 8th Mar). Following surge in prices in Northern India, the spot billet trades have been improved in major markets including Raipur, Central India.
- 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) – Twelve 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, five trades were recorded at INR 38,000/t , two at INR 38,300/t, two deals at INR 38,200/t and one deal each at INR 38,250/t, INR 38,100/t & INR 38,050/t. The average price of these twelve transactions was INR 38,103/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Ten offers reported in the trading window and considered as T2 inputs. The average price of these ten was INR 38,063/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 38,083/t, rounded to INR 38,100/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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