SteelMint daily billet index has been assessed at INR 29,850/t (-50), exw Raipur on 8th October, 18:00 IST.
Total of about 2,200 t billet trades recorded today, as against 500 t yesterday (i.e. 7th Oct).
- 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 29,800/t, while one deal at INR 29,700/t, one at INR 29,750/t, one at INR 29,900/t, one at INR 29,950/t & one at INR 30,000/t. The average price of these seven transactions was INR 29,800/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – There were twelve offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,910/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 29,855/t, rounded to INR 29,850/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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