SteelMint’s daily billet index has been assessed at INR 40,700/t (-400) exw Raipur on 13th Apr’21, 18:00 IST.
A total of about 3,000 t billet trades were recorded by SteelMint today, as against 4,220 t yesterday (i.e. 11th Apr). Following decline in prices in Northern India, the spot billet trades have been decreased in major markets including Raipur, Central India.
- 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) – Six trades were recorded in the 2:30 pm to 5:30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, three trades were recorded at INR 40,700/t, two at INR 40,800/t and one deal at INR 40,600/t. The average price of these six transactions was INR 40,688/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2) – Eleven offers reported in the trading window and considered as T2 inputs. The average price of these eleven 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 40,694/t, rounded to INR 40,700/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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