SteelMint daily billet index has been assessed at INR 40,700/t (-200) exw Raipur on 5th Jan’21, 18:00 IST.
Total of about 1,400 t billet trades recorded today, as against 4,100 t yesterday (i.e. 4th 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)- Five 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 40,900/t and one deal each at INR 40,500/t, INR 40,600 & INR 40,800/t. The average price of these five transactions was INR 40,740/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)– Thirteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 40,700/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 40,720/t, rounded to INR 40,700/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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