SteelMint’s daily billet index has been assessed at INR 38,300/t (-400) exw Raipur on 17th Mar’21, 18:00 IST.
A total of about 4,770 t billet trades were recorded by SteelMint today, as against 1,850 t yesterday (i.e. 16th Mar), surge around 2.5-times on a day basis. Trade sources highlighted that billet bookings have increased over fall in prices.
- 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 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 38,300/t, five at INR 38,400/t & one deal at INR 38,450/t. The average price of these eleven transactions was INR 38,322/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Twelve offers reported in the trading window and considered as T2 inputs. The average price of these twelve was INR 38,295/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 38,308/t, rounded to INR 38,300/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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