SteelMint daily billet index has been assessed at INR 32,700/t (-400) exw Raipur on 4th Feb’21, 18:00 IST.
A total of about 6,400 t billet trades recorded today, as against 1,250 t on yesterday (i.e. 3rd 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)- Thirteen 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, three trades were recorded at INR 32,700/t, three at INR 32,600/t, one at INR 32,900/t & two deals each at INR 32,800/t, INR 32,500/t & INR 32,650/t. The average price of these thirteen transactions was INR 32,708/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 32,675/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 32,691/t, rounded to INR 32,700/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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