SteelMint daily billet index has been assessed at INR 34,400/t (-400), exw Raipur on 24th November, 18:00 IST.
Total of about 1,000 t billet trades recorded today, as against 1,100 t yesterday (i.e. 23rd Nov).
- 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 34,400/t & one deal each at INR 34,300/t, INR 34,500/t, INR 34,600/t. The average price of these five transactions was INR 34,440/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 34,400/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 34,420/t, rounded to INR 34,400/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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