SteelMint’s daily billet index is assessed at INR 42,750/t (+350/t), exw Raipur, on 15 Jun’21.
The index rebound following active trading along with high prices of raw materials. Around 5,200 t of steel billet trades were recorded today, against 3,100 t yesterday.
- 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) – Eleven 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, four trades were recorded at INR 42,700/t, three deals at INR 43,000/t, and one deal each at INR 43,100/t, INR 42,900, INR 42,800 & INR 42,500/t. The average price of these eleven transactions was INR 42,733/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 42,771/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 42,752/t, rounded to INR 42,750/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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