SteelMint daily billet index has been assessed at INR 35,700/t (-900) exw Raipur on 21st Jan’21, 18:00 IST.
Total of about 3,400 t billet trades recorded today, as against 2,000 t on yesterday (i.e. 20th Jan).
- 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)- Seven 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, two trades were recorded at INR 36,000/t, two at INR 35,800/t & one deal each at INR 35,600/t, INR 35,700/t & INR 35,900/t. The average price of these nine transactions was INR 35,756/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 was INR 35,683/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 35,719/t, rounded to INR 35,700/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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