SteelMint billet index drops by INR 50/t – 20 Feb

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SteelMint daily billet index has been assessed at INR 37,450/t (-50) exw Raipur on 20th Feb’21, 16:00 IST.

A total of about 3,550 t billet trades were recorded today, as against 1,500 t on yesterday (i.e. 19th 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)- Six trades were recorded in the 11:30 am to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, three trades were recorded at INR 37,500/t and one deal each at INR 37,400/t, INR 37,300/t & INR 37,600/t. The average price of these six transactions was INR 37,435/t and given a 50% weightage in the final price calculation.
Other Price Indicators – bids/offers/indicative (T2)- Ten offers reported in the trading window and considered as T2 inputs. The average price of these ten was INR 37,513/t and given a 50% weightage in the final price calculation.

The final price for billet exw Raipur was at INR 37,474/t, rounded to INR 37,450/t exw.