SteelMint billet index drops by INR 100/t, however trade remains active – 25 Mar

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SteelMint’s daily billet index has been assessed at INR 38,150/t (-100) exw Raipur on 25th Mar’21, 18:00 IST.

A total of about 3,820 t billet trades were recorded by SteelMint today, as against 3,420 t yesterday (i.e. 24th Mar).

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) – Eight 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, four trades were recorded at INR 38,200/t, one deal at INR 38,300/t, one at INR 38,250/t and one deal each at INR 38,100/t & INR 38,000/t. The average price of these eight transactions was INR 38,127/t and given a 50% weightage in the final price calculation.
Other Price Indicators – bids/offers/indicative (T2) – Fourteen offers reported in the trading window and considered as T2 inputs. The average price of these fourteen was INR 38,207/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 38,167/t, rounded to INR 38,150/t exw.