SteelMint daily billet index has been assessed at INR 34,600/t (-50) exw Raipur on 11th Feb’21, 18:00 IST.
A total of about 3,350 t billet trades recorded today, as against 3,980 t on yesterday (i.e. 10th Feb).
- 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, five trades were recorded at INR 34,500/t, two at INR 34,600/t & one deal at INR 34,700/t. The average price of these eight transactions was INR 34,590/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Twelve offers reported in the trading window and considered as T2 inputs. The average price of these twelve was INR 34,600/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 34,595/t, rounded to INR 34,600/t exw.
Click for detailed methodology
T1: Trade
T2: Offer/Bid/Indicative
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