SteelMint’s daily billet index has been assessed at INR 38,750/t (+250) exw Raipur on 20th Mar’21, 16:00 IST.
A total of about 4,720 t billet trades were recorded by SteelMint today, as against 3,450 t yesterday (i.e. 19th Mar).
- 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) – Nine 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, four trades were recorded at INR 38,700/t, three deals at INR 38,800/t, one at INR 38,600/t & one deal at INR 38,650/t. The average price of these nine transactions was INR 38,749/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these thirteen was INR 38,740/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 38,744/t, rounded to INR 38,750/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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