SteelMint billet index falls by INR 400/t on limited trades – 22 Feb

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SteelMint daily billet index has been assessed at INR 37,050/t (-400) exw Raipur on 22nd Feb’21, 18:00 IST.

A total of about 3,300 t billet trades were recorded today, as against 3,550 t on Saturday (i.e. 20th Feb).

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, four trades were recorded at INR 37,200/t, three at INR 37,000/t, one at INR 37,150/t and one deal at INR 37,100/t. The average price of these nine transactions was INR 37,120/t and given a 50% weightage in the final price calculation.
Other Price Indicators – bids/offers/indicative (T2)- Eleven offers reported in the trading window and considered as T2 inputs. The average price of these eleven was INR 37,025/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 37,073/t, rounded to INR 37,050/t exw.