SteelMint’s daily billet index has been assessed at INR 41,200/t (=) exw Raipur on 30th Apr’21, 18:00 IST.
A total of about 3,700 t billet trades were recorded by SteelMint today, as against 3,200 t yesterday (i.e. 29th Apr).
The index remained unaltered today on account of active demand & limited bids on floated higher offers. Hence, deals have been concluded mostly on firm offers.
- 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) – Four 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, two trades were recorded at INR 41,200/t and two deals at INR 41,100/t. The average price of these four transactions was INR 41,170/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Seven offers reported in the trading window and considered as T2 inputs. The average price of these seven was INR 41,250/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 41,210/t, rounded to INR 41,200/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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