SteelMint’s daily billet index has been assessed at INR 40,600/t (-300) exw Raipur on 26th May’21, 18:00 IST.
The index dropped, however trade volumes improved & were recorded at around 5,100 t today as against 3,350 t yesterday i.e. 25th May.
- 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) – Eight trades were recorded in the 2:30 pm 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 40,600/t, one at INR 40,700/t and one deal each at INR 40,300/t & INR 40,500/t. The average price of these eight transactions was INR 40,596/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Nine offers reported in the trading window and considered as T2 inputs. The average price of these nine was INR 40,583/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 40,590/t, rounded to INR 40,600/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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