SteelMint daily billet index has been assessed at INR 29,900/t (-100), exw Raipur on 7th October, 18:00 IST.
Total of about 500 t billet trades recorded today, as against 2,040 t yesterday (i.e. 6th 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 – Two trades were recorded in the 2.30 to 5.30 pm SteelMint trading window at INR 29,900/t & INR 30,000/t and considered for final price calculation as T1 inputs.
- Other Price Indicators (Firm bids/offers) T2 – There were fifteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 29,947/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 29,923/t, rounded to INR 29,900/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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