SteelMint daily billet index has been assessed at INR 35,400/t (-300) exw Raipur on 22nd Jan’21, 18:00 IST.
A total of about 4,400 t billet trades were recorded today, which higher by about 30% compared with 3,400 t yesterday (i.e. 21st Jan).
- 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)- Eleven 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 35,300/t, two at INR 35,600/t, two at INR 35,500/t & one deal each at INR 35,200/t & INR 35,400/t. The average price of these eleven transactions was INR 35,374/t and given a 50% weightage in the final price calculation.
- Other Price Indicators – bids/offers/indicative (T2)- Nine offers reported in the trading window and considered as T2 inputs. The average price of these nine was INR 35,400/t and given a 50% weightage in the final price calculation.
The final price for billet exw Raipur was at INR 35,387/t, rounded to INR 35,400/t exw.
For detailed methodology – Click here
T1: Trade
T2: Offer/Bid/Indicative
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