SteelMint’s daily billet index has been assessed at INR 41,550/t (-200) exw Raipur on 5th Apr’21, 18:00 IST.
A total of about 5,560 t billet trades were recorded by SteelMint today, as against 2,320 t on Saturday (i.e. 3rd Apr).
- 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 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 41,500/t & one deal each at INR 41,400/t, INR 41,550/t & INR 41,600/t. The average price of these seven transactions was INR 41,507/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 41,583/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,545/t, rounded to INR 41,550/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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