SteelMint billet index (Exw Raipur) has been assessed at INR 30,700/t (-50), Exw Raipur on 11th August, 18:00 IST.
- 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 – Three trades were recorded in the 2.30 to 5.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Two trades were concluded at INR 30,600/t, while one trade at INR 30,800/t. Also, three trades were recorded, one at INR 30,600/t, one at INR 30,700/t & another one at INR 30,900/t, but these trades have been excluded from the final price calculations due to the timing. The average price of these three transactions was INR 30,667/t and given a 50% weightage in the final price calculation.
- Other Price Indicators (Firm bids/offers) T2 – There were thirteen offers reported in the trading window and considered as T2 inputs. The average price of these was INR 30,719/t and given a 50% weightage in the final price calculation.
The final price for billet ex-Raipur was INR 30,693/t, rounded to INR 30,700/t Exw.
For detailed methodology – click here
T1: Trade
T2: Offer/Bid/Indicative
Offer and Trade reported during 11:00 to 14:30 IST are not considered in the index calculation
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