SteelMint billet index fall further by INR 300/t due to limited trades- 20th Aug

SteelMint billet index (Exw Raipur) has been assessed at INR 29,950/t (-300), Exw Raipur on 20th August, 18:00 IST.

• 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 – One trades were recorded at INR 30,000/t in the 2.30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs.
• Other Price Indicators (Firm bids/offers) T2 – There were fourteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,921 /t and given a 50% weightage in the final price calculation.

The final price for billet ex-Raipur was INR 29,961/t, rounded to INR 29,950/t Exw.

For detailed methodology – click here

T1: Trade
T2: Offer/Bid/Indicative
Offer and Trade reported during 11:00 to 14:30 IST are not considered in the index calculation